Question No.1, Abdullah Bill of Exchange Omer account is debited while crediting sales account for the goods sold to omer. Cash received from omer, debit cash account while credit to omer a/c Biils Receivable account is debited by Rs. 14,000
Question No.2 Hamza Bank Reconciliation Statement Items to be added in passbook
Interest and dividend received by the bank
Items to be deducted from pass book
Interest on overdraft paid by bank
Bank charges charged by the bank
Cheque omitted to bank
Question No.3 Sania Trading and Profit and Loss Account Incorporate adjustments for Out standing salary and taxes, Prepaid insurance, Accrued interest, Depreciation on Motor car, Furniture and provision for bad debts.
Question No.4 Rectification of Errors
Provide Rectification General Entries,
Make suspense account
Demonstrate effects on profits
Question No.5 Suleman Statement of Affairs
Find Net profit during the year after making the adjustments in capital balances.
Prepare Realization Account, calculate the profit or loss after closing all the assets and liabilities accounts except cash. Transfer any balance amount to the capital.