Planning Practice of Unilever Bangladesh
Transaction analysis
Problem # 1
Mr. Abul operates premium service, which has the following assets: Cash tk. 40,000, supplies tk. 2,000, delivery van tk. 30,000 and truck tk. 60,000. The business owes tk. 12,000 for supplies previously purchased. The following transactions occur in the month of March 2004: March 01: Paid office rent for 3 month’s advance tk. 6,000. 02: Purchased delivery van for cash tk. 20,000. 04: Purchased supplies on account tk. 2,500. 06: Purchased supplies for cash tk. 1,000. 10: Service rendered to a customer and immediately collected tk. 6,000 12: Service rendered to a customer on account tk. 13,000. 18: Paid utility expense of the month tk. 1,000 cash. 22: Paid for the supplies purchased on March 04. 31: The owner withdrew tk. 1,800 from the business.
Instructions: (a) Compute the Opening capital/equity. (b) Prepare a tabular analysis of the transactions using the following account titles: Cash, Accounts receivable, Prepaid rent, Supplies, Delivery van, Truck, Accounts payable, Y’s capital.
Problem # 2
On June 01 2004 Mr. Tanim started an accounting consultancy agency. The following transactions took place in the month of June: 01: Invested tk. 20,000 as capital in the business. 04: Hired a personal secretary at a monthly salary of tk. 4,000. 06: Purchased supplies for tk. 200 cash. 09: Paid advertising expense tk. 6,000 cash. 12: Purchased office equipment for tk. 30,000 on account. 15: Earned tk. 40,000 for service rendered, 40% of which is received in cash from the customer and the balance is billed to customer on account. 20: Paid the salary of the personal secretary. 27: Received tk. 4,000 from a customer in advance for accounting service to be performed in near future. 28: Borrowed from bank tk. 20,000 cash by signing a note payable.
Show the
Problem # 1
Mr. Abul operates premium service, which has the following assets: Cash tk. 40,000, supplies tk. 2,000, delivery van tk. 30,000 and truck tk. 60,000. The business owes tk. 12,000 for supplies previously purchased. The following transactions occur in the month of March 2004: March 01: Paid office rent for 3 month’s advance tk. 6,000. 02: Purchased delivery van for cash tk. 20,000. 04: Purchased supplies on account tk. 2,500. 06: Purchased supplies for cash tk. 1,000. 10: Service rendered to a customer and immediately collected tk. 6,000 12: Service rendered to a customer on account tk. 13,000. 18: Paid utility expense of the month tk. 1,000 cash. 22: Paid for the supplies purchased on March 04. 31: The owner withdrew tk. 1,800 from the business.
Instructions: (a) Compute the Opening capital/equity. (b) Prepare a tabular analysis of the transactions using the following account titles: Cash, Accounts receivable, Prepaid rent, Supplies, Delivery van, Truck, Accounts payable, Y’s capital.
Problem # 2
On June 01 2004 Mr. Tanim started an accounting consultancy agency. The following transactions took place in the month of June: 01: Invested tk. 20,000 as capital in the business. 04: Hired a personal secretary at a monthly salary of tk. 4,000. 06: Purchased supplies for tk. 200 cash. 09: Paid advertising expense tk. 6,000 cash. 12: Purchased office equipment for tk. 30,000 on account. 15: Earned tk. 40,000 for service rendered, 40% of which is received in cash from the customer and the balance is billed to customer on account. 20: Paid the salary of the personal secretary. 27: Received tk. 4,000 from a customer in advance for accounting service to be performed in near future. 28: Borrowed from bank tk. 20,000 cash by signing a note payable.
Show the