General Journal of Mr. Sadequane | A watermelon seller.

Mr. Sadequane is a reputed businessman. He supplies in bulk quantities of round & big watermelons to many retailers. As his business is growing. He is now starting his own retail fruit shop. He has hired you as his bookkeeper to record his day to day business transactions.

  • Started business by investing Cash 100,000, Bank 300,000, Refrigerator 50,000, furniture 20,000, Fixtures & fittings 20,000.
  • Paid shop rent Rs, 50,000 by bank.
  • Purchased Bananas 10kg, Mangoes 50kg, & Apples 20kg from Mr. Anas at 40/kg, 70/kg, & 90 per Kg.
  • Purchsed a special juice machine for 40,000 paid by own account.
  • Transferred 100kg watermelon from his other business at a cost of 45/kg.
  • Sold 5kg banana & 12 kg apples at 50/kg, & 120/kg respectively on cash.
  • Installed Air conditioning system for 50,000 paid by cash.
  • Sold 80kg watermelon at 50/kg on cash.
  • Paid staff salary 80,000 by cheque.
  • Paid 5000 cash in bank.