Trial Balanc e as on 1st January 2010 is as follows:

Cash 100,000 Accounts Receivable 150,000 Inventory 200,000 Prepaid Rent 12,000 Machinery 500,000 Accumulated Depreciation: Machinery Accounts Payable Salaries Payable Capital Retained Earnings Sales Cost of Sales 250,000 Salaries Exp 10,000 Rent Exp 10,000 Depreciation Exp 10,000 Total 1,242,000 The details of some of the accounts are as follows: Accounts Receivable Date Pakistan Ltd 27th December, 2009 ABC Ltd 27th December, 2009

50,000 120,000 20,000 352,000 100,000 600,000

1,242,000

Invoice Amount 1122 100,000 1123 50,000

Accounts Payable Zing Ltd Q Tec Ltd Date 27th December, 2009 27th December, 2009 Invoice Amount 5584 70,000 2256 50,000

Inventory Quantity X-100 X-200 X-300 T-100 2,000 2,000 2,000 4,000 Per Unit 20 20 20 10 Amount 40,000 40,000 40,000 40,000

T-200

4,000

10

40,000

Jan 01: Items: Item X-100 X-200 X-300

Issued a Purchase Order to Zing Ltd for the Purchase of following

Quantity 2,000 2,000 2,000

Per Unit 20 20 20

Amount 40,000 40,000 40,000

Jan02:

Paid the salaries of Rs. 20,000 that were accrued last month.

Jan 2: Issued a Purchase Order for the purchase of following Items to Q Tec Ltd: Quantity T-100 T-200 4,000 4,000 Per Unit Amount 10 40,000 10 40,000

Jan 5: Received following goods from Zing Ltd against the Purchase order of Jan 01: Item X-100 X-200 Quantity 2,000 2,000 Per Unit 20 20 Amount 40,000 40,000

Jan 6: Received all goods from Q Tec Ltd against the Purchase order of Jan 02. Jan06: Sent a quotation to Noor tec for the following items: Inventory Quantity X-100 X-200 X-300 T-100 T-200 1,000 1,000 1,000 2,000 2,000 Per Unit 40 40 40 10 20

Jan 07: Returned the following goods to Q Tec Ltd against the purchase of Jan 05. Item X-100 X-200 Quantity 100 100 Per Unit 20 20 Amount 40,000 40,000

Jan 07: A purchase order was received from Pakistan Ltd for the purchase of following goods: Quantity X-100 X-300 T-100 T-200 2,000 2,000 4,000 4,000 (Goods will be delivered on 9 Jan) Per Unit 40 45 23 23

Jan 09: Jan Jan 10:

Goods were sold to Pakistan Ltd against the Sales order made on 7

Following goods sold to ABC Ltd : Item X-100 X-200 Quantity 2,000 2,000 Per Unit 45 45

Jan 11:

Make full payment to Q Tec Ltd

Jan 12: Make the payment to Zing Ltd against the invoice of Jan 05 Jan 13: received payment from Pakistan Ltd against the goods sold on Jan 09.

Jan 14: Quotation was approved by Noor Ltd and goods were sold to them against the quotation of Jan 06 Jan 15: goods returned by ABC Ltd: Item X-100 X-200 Quantity 50 50 Per Unit 45 45