Analysing the effects of Business Transactions:
Expert Consulting Inc was established on st January and entered into the following transactions:
Date
Details of the transaction
st January
Started business by issuing shares worth Rs in exchange for cash.
nd January
Purchased supplies inventory worth Rs on account.
th January
Prepaid rent of Rs for the months of February, March and April.
th January
Rs paid towards the purchase of supplies made on nd January
th January
Billed customers Rs for services rendered.
th January
Paid Rs for January advertising.
th January
Cash sales worth Rs made.
th January
Received Rs from customers billed on th January.
th January
Paid Rs for January salaries
st January
Paid Rs for January utilities
Required:
Prepare a transaction statement as discussed in classmonopoly sessions for all the transactions mentioned above. marks
Prepare Income Statement. marks
Prepare Balance Sheet. marks
PLEASE MAKE SUBMISSIONS IN EXCEL
