Prepare General journal of Mr. Waqar, a restaurant owner

Mr. Waqar is in process of opening his restaurant of Fast food, and bakery items. His policy is to charge 25% profit on cost. Following are the particulars of his business for the month of august 2019.



  1. Invested furniture, deep fryers, kitchen utensils, and Bank balance of Rs. 600,000, 500,000, 250,000, and 1, 000,000 respectively.
  2. Purchased food ingredients from jimtiez grocery store for Rs. 100,000 paid by cheque.
  3. Sales for first half amounted to Rs, 70,000 from diners & 30,000 from home delivery. 
  4. Paid Gas & Electricity of 10,000 & 80,000 respectively.
  5. Purchased more ingredients amounted to Rs,.200,000 paying by cheque.
  6. Sales for second half amounted to Rs. 132,000 from diners & 70,000 from home delivery.
  7. Paid 5 waiters' wages of Rs. 20,000 each
  8. Paid chefs salary Rs. 90,000.

No comments

Powered by Blogger.