Zain Traders

Financial Year (January to December)

Opening Balances as at january 01,2016
Sr.No
1
2
3
4
5
6
7
8
9
10
11
12
13
14

Particulars

Debit

Debtors (Recievable)
Creditors (Vendors)
Stock (Inventory)
Land & Buildings
Acc. Dep of land and Building
Motor Vehicle
Acc. Dep of Motor Vehicle
Machinery
Acc. Dep of Machinery
Cash
Standard Charted Bank
United Bank Ltd
Capital Invested (Owners Equity)
Accrued expenses

Credit

150,000
350,000
900,000
850,000
130,000
450,000
72,000
290,000
58,000
694,730
1,867,410
276,399
4,800,000
68,539

Total

5,478,539

5,478,539

Customer Details
Sr.No
1
2
3

Names

Balances

Bashir
Abu Bakar
Mubarik

50,000
60,000
40,000
150,000

Total

Vendor Details
Sr.No

Names

1
2

Danial
Shahid

Balances
100,000
250,000
350,000

Total

Inventory Details
Sr.No

Particulars

Quantity

Rate

1
2
3
4

Corolla Wind Screen

Civic head Lights
Suzuki Wheel Cups
Suzuki Rear Lights

40
10
40
100

12000
35000
250
600

Date

Transactions During the Month

Jan 03,2016 Purchased Furniture by giving cash

Advance Rent Paid For 6 Months by Cash @5000 per
Jan 04,2016 Month
Jan 04,2016 Security Deposit paid by Cash for shop taken on rent
Jan 06,2016 Paint and Renovation Expenses of Shop taken on rent
Jan 07,2016 Mr. Mubarik paid all previous balance by Cash

Amount
480,000
350,000
10,000
60,000

Total
Amount

900,000
Source
Document

200,000 Jounal Entry

30,000 Jounal Entry
30,000 Jounal Entry
5,000 Jounal Entry
40,000 Reciept Voucher

Jan 08,2016

Jan 09,2016

Jan 11,2016
Jan 12,2016

Jan 12,2016

Jan 14,2016

Jan 17,2016

Jan 17,2016

Purchased Following items from Mr.Danial

Items
Quantity
Rate
Corolla Wind Screen
20
12000
Civic Head Lights
20
35000
Suzuki Wheel Cups
50
250
Suzuki Filters (New Item)
70
250
Purchased Following Item from Mr.Majid (New Vendor)
Items
Quantity
Rate
Corolla Wind Screen
50
12000
Civic Head Lights
30
35000
Suzuki Filters
100
250
Cash Sales, Corolla Screen
1
15000
Received cash in Advance from Abu Bakar
Received Sale Order from Abu Bakar (order No.55)
Items
Quantity
Rate
Corolla Wind Screen
12
15000
Civic Head Lights
10
47000
Suzuki Filters
5
400
Sales made of Following item to Mr. Bashir
Items
Quantity
Rate
Corolla Wind Screen
5
16000
Civic Head Lights
10
46000
Suzuki Filters
4
450
Raised Purchase Order to Mr.Shahid (Order No. 49)
Items
Quantity
Rate
Corolla Wind Screen
25
12000
Civic Head Lights
30
54000
Suzuki Wheel Cups
20
504
Mr.Abu Bakar Didn't paid the due amount, thus treated bad
Debts

Amount
240,000
700,000
12,500
17,500

Purchase Invoice
Purchase Invoice
Purchase Invoice
Purchase Invoice
Purchase Invoice

Amount
600,000
1,050,000
25,000
15,000
378,000

Purchase Invoice
Purchase Invoice
Purchase Invoice
Purchase Invoice
Sale Invoices
Reciept Voucher

Amount
180,000
470,000
2,000

Sale Order
Sale Order
Sale Order
Sale Order

Amount
80,000
460,000
1,800

Sale Invoice
Sale Invoice
Sale Invoice
Sale Invoice

Amount
300,000
1,620,000
10,080

Purchase Order
Purchase Order
Purchase Order
Purchase Order

60,000 Reciept Voucher

Jan 18,2016 Packing Charges Invoice received from Mr.Ali (New Vendor)

45,000 Purchase Invoice

Jan 18,2016 Paid Mr.Ali by Cheque of Standard Charted Bank

30,000 Payment Voucher

Jan 19,2016 Send all Items to Mr.Abu Bakar against previous sale order (S.O No. 55)
Returned 10 Corolla Wind Screens to Mr.majid (Purchase Returns) @Rs
Jan 22,2016 12000 per Unit
Returned 5 Civic Headlights by Mr.Abu Bakar (Sale Returns) @Rs 47000 per
Jan 24,2016 Unit

Sale Invoice

Jan 25,2016 Mr.bashir Cleared all his previous balance by giving us cash
Mr.Shahid Sent all items against previously issued purchase order (P.O No.
Jan 26,2016 49)

Reciept Voucher

Debit Note
Credit Note

Purchase Invoice
Inventory
Adjustment

Jan 27,2016 One Corolla wind screen Damaged during Loading/Unloading @ 12000
Rent Expense for Jan adjusted from Advance rent Account for an amount of
Jan 31,2016 Rs.5000
Journal Entry
Prepared by SAAD NADEEM 0331-9811118
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