GENERAL JOURNAL – GENERAL LEDGER – TRIAL BALANCE by KZ
Question 1:
The following transactions were completed by Farooq during June 2026:
1st Commenced business with an investment of cash of PKR. 30,000/- and furniture worth PKR.
20,000/-
2nd Purchased merchandise on account from Ali for PKR. 25,000/- and paid carriage thereon PKR.
700/-.
4th Purchased equipment for cash PKR. 2,000/-
6th Withdrew merchandise worth PKR. 600 and cash PKR. 1,300/- for personal use.
8th Cash sales for the day, PKR. 3000/-
th
12 Purchased supplies for cash PKR. 1,500/-
15th Paid salaries expense in cash PKR. 2,600/-
th
19 Sold merchandise on account to Tariq, PKR. 6,000/-
22nd Defective goods returned by Tariq, PKR. 300/-
25th Paid rent expense in cash, PKR. 1,000/-
27th Paid to Ali on account cash PKR. 16,000/-
th
29 Received cash from Tariq on account of PKR. 4,000/-
30th Paid for insurance PKR. 900/- cash.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T-account with balancing
c) Prepare Trial Balance
Question 2:
The following are some of the transactions of Ali Store for the month of March.
01 Ali invested PKR. 550,000 in cash for his business.
01 Purchased a shop building for cash worth PKR. 320,000.
02 Purchased shop furniture on credit from stylish furniture, PKR. 80,000.
03 Purchased shop equipment on credit from IBM PKR 90,000
05 Purchased merchandise for cash PKR. 125,500.
05 Paid transporting expenses PKR. 580.
07 Purchased merchandise on credit from k. & sons, PKR 86,500.
10 Sold merchandise for cash, PKR. 43,500.
15 Sold merchandises on credit to b. & co. PKR. 84,250.
17 Received commission revenue of PKR. 16,600.
20 Purchased shop furniture for cash, PKR. 75,000.
20 Paid for merchandise purchased PKR. 28,700.
26 Paid for stylish furniture, PKR. 30,000.
27 Received cash from b. & co PKR. 66,250.
28 Paid cash to k. & sons PKR. 36,500.
31 Paid salaries to employees for the month of PKR. 24,500
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T-account with balancing
c) Prepare Trial Balance
Question 3:
From the following transaction of Khalid Pen Stores, for the month of December 2025
1) Bought cash PKR. 200,000 to start the business.
2) Purchased furniture for PKR. 70,000.
3) Purchased stationery and printing materials for office use, PKR 2,000.
4) Purchased pens on credit from Japan Trading Company, amounting to PKR 11,680.
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GENERAL JOURNAL – GENERAL LEDGER – TRIAL BALANCE by KZ
5) Returned defective pens to Japan Trading Company, amounting to PKR 280.
6) Sold on credit, pilot pens to Eastern Stationers amounting to PKR 12,800.
7) Returned by Eastern Stationers a defective pen amounting to PKR 1,000.
8) Paid to Japan Trading Company PKR 6,200.
9) Received from Eastern Stationers PKR 7,500.
10) Opened a bank account for PKR 25,000.
11) Paid for advertisement to a monthly magazine PKR 15,000 by cheque.
12) Paid to the proprietor PKR 4,000 for personal use.
13) Paid salaries for the month of PKR 2,000 by cheque.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T-account with balancing
c) Prepare Trial Balance
Question 4:
From the following transaction of Al-Asif Stationers for the month of January 2026.
01 The owner brought cash of PKR 4,000,000 to start the business.
02 Purchased a building for PKR 2,000,000.
05 Purchased pens on credit from Elite Trading, PKR 21,150.
06 Sold on credit, parker pens to China Store PKR 12,200.
07 Returned defective and low-standard pens to Elite Trading PKR 5,000.
10 Returned from China Store, damaged pens PKR 250.
15 Paid to Elite Trading PKR 11,500.
20 Received from China Store PKR 7,000.
21 Operated a bank account of the firm with PKR 250,000.
25 Purchased merchandise from the Gulf Store on credit, PKR 23,200.
29 Issued a cheque to Gulf Store for PKR 12,000.
31 Paid a cheque for the rent of business premises, PKR 2,500.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T-account with balancing
c) Prepare Trial Balance
Question 5:
Kafil started a ready-made garments shop under the firm name Oriental Stores on March 1, bringing a
capital PKR 400,000 in cash and had the following transactions for the month.
02 Purchased furniture from stylish furniture for cash PKR 30,000.
02 Paid transportation charges of PKR 300.
09 Purchased merchandise from Ahmed Brothers for PKR 16,800.
10 Cash purchase of PKR 18,680.
11 Sold merchandise for cash PKR 8,640.
13 Cash sale for PKR 7,860.
17 Sold on credit to Hussain Mills Stores for PKR 6,160.
21 Credit sale to Boby Store for PKR 3,840.
23 Received from Hussain Mills Stores PKR 6,160.
28 Received from Boby Store PKR 3,440, in full settlement of his account.
31 Paid to Kafil for personal use, PKR 5,000 from the business and merchandise costing PKR 2,500.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T-account with balancing
c) Prepare Trial Balance
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GENERAL JOURNAL – GENERAL LEDGER – TRIAL BALANCE by KZ
Question 6:
The following transactions were completed by a Salman during January 2026
1) Salman started a business with a capital of PKR 200,000.
2) Purchased a building for cash of PKR 80,000.
3) Purchased machinery on account of PKR 7,000.
4) Purchased furniture from Ahmed PKR 6,000.
5) Paid PKR 5,000 for machinery.
6) Paid PKR 3,000 to Ahmed.
7) Provided services to Rehman, PKR 15,000.
8) Received cash from Rehman, PKR 7,500.
9) Salaries paid for the month PKR 10,000.
10) Utilities paid for the month PKR 5,000.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T-account with balancing
c) Prepare Trial Balance
Question 7:
The following transactions were completed by ZOHIB Brothers during June 2026
1) Invested cash in the business, PKR 40,000.
2) Purchased equipment for cash PKR 7,000.
3) Paid shop rent PKR 500.
4) Purchased a typewriter on account of PKR 8,000.
5) Paid salaries PKR 3,500
6) Paid creditor PKR 5,000
7) Provided services to clients on account of PKR 5,500.
8) Received cash from clients on account of PKR 5,500.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
Question 8:
The following transactions were performed by Farid Wazir in his business during June 2011
1) Farid Wazir invested PKR 30,000 in his new business.
2) Purchased equipment for cash PKR 10,000.
3) Purchased furniture for PKR 20,000 from ABC Furniture House and paid PKR 5,000 cash was paid as a
down payment and a note was issued for the remaining balance.
4) Gave a loan to employee PKR 5,000.
5) Paid PKR 10,000 to ABC Furniture House.
6) Received cash from employee PKR 2,500.
7) Paid salaries expense PKR 2,000.
8) Provided services and received cash from customers PKR 15,000.
9) Withdrew from the business PKR 5,000 for his personal use.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
Question 9:
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GENERAL JOURNAL – GENERAL LEDGER – TRIAL BALANCE by KZ
The following transactions were performed by SJ in his business during December 2025
1) SJ invested cash PKR 40,000 in his new business.
2) Purchased equipment for cash PKR 20,000.
3) Purchased furniture on credit, PKR 15,000 from sunshine furniture house.
4) Gave a loan to Ather of PKR 4,000.
5) Paid PKR 12,000 for furniture to sunshine furniture house.
6) Received back cash from Ather, PKR 3,500.
7) Paid salaries expense PKR 5,000.
8) Provided services and received cash from customers, PKR 9,000.
9) Withdrew from the business PKR 8,000 for his personal use.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
Question 10:
The following transactions were performed by a NKZ in her business during January 2026
1) NKZ started a business with a capital of PKR 200,000.
2) Purchased a building for cash, PKR 90,000.
3) Purchased a machine on account from Delta PKR 7,000.
4) Purchased furniture from Ali Furniture, PKR 6,000 on account.
5) Paid PKR 5,000 for the machine to Delta.
6) Paid PKR 3,000 to Ali Furniture.
7) The owner withdrew PKR 10,000 from the business for his personal use.
8) Received a loan from Bank of PKR 7,500.
9) Salaries paid for the month PKR 10,000.
10) Utilities paid for the month PKR 5,000.
11) Paid PKR 7,500 to Bank.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
Question 11:
The proprietor invested into the business cash PKR 100,000 in the business on June 1st, 2026
3rd Purchase merchandise for PKR 5,300 and issue a cheque for the amount.
th
6 Cash sales deposited into the bank, PKR 6,000
8th Purchased office supplies for cash, PKR 200
th
10 Received a cheque for PKR 4,900 from Mubarak in full settlement of his account of PKR 5,000 and
deposited the cheque into the bank.
15. Sold merchandise for cash PKR 2,500.
18. Withdraw cash for personal use, PKR 2,000
20. Issued a cheque for PKR 2,450 to Ahmed in full settlement of his account of PKR 2,500.
24. Withdraw from the bank PKR 5,000 for office use.
27. Merchandise purchased for cash PKR 3,000.
30. Salary paid by cheque PKR 3,500.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
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GENERAL JOURNAL – GENERAL LEDGER – TRIAL BALANCE by KZ
Question 12:
Transactions of Nasir & company are listed below:
1) Nasir, the proprietor, invested PKR 10,000 into the business and furniture valued at PKR 6,000.
2) Purchased merchandise for cash, PKR 6,000.
3) Purchased merchandise on credit from Khalid for PKR 2,000.
4) Sold merchandise for cash PKR 8,000.
5) Sold merchandise on credit to Rashid for PKR 4,000.
6) Returned merchandise to Khalid PKR 300.
7) Merchandise returned by Rashid PKR 200.
8) Paid shop rent of PKR 150 in cash.
9) Opened a current account with the bank with PKR 10,000.
10) Withdrew from the bank PKR 4,000 for the private expenses of the proprietor.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
Question 13:
The proprietor started a business and invested cash 500,000 on June 1st 2026
1) Purchased furniture for cash PKR 150,000
2) Purchase merchandise for PKR 50,000 cash and on credit PKR 30,000 from A
3) Purchased office supplies for cash PKR 5,000
4) Paid advance rent of PKR 10,000
5) Sold merchandise for cash PKR 300,000
6) Paid to A PKR 20,000
7) Received long-term loan from bank PKR 200,000
8) Paid utilities expense for cash PKR 10,000
9) Salary paid PKR 40,000
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
Question 14:
Transactions of Nasir & company are listed below:
Nasir, the proprietor, invested PKR 800,000 into the business and furniture valued at PKR 60,000.
Purchased merchandise for cash of PKR 100,000.
Purchased merchandise on credit from Khalid for PKR 10,000.
Sold merchandise for cash PKR 80,000.
Sold merchandise on credit to Rashid, PKR 90,000.
Paid shop rent of PKR 15000 in cash.
Paid utilities PKR 30,000
Opened a current account with the bank with PKR 50,000.
Withdrew from the bank PKR 4,000 for the private expenses of the proprietor.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
Question 15:
The proprietor started a business and invested cash PKR 800,000 on June 1st, 2026
3. Purchased equipment for cash PKR 150,000
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GENERAL JOURNAL – GENERAL LEDGER – TRIAL BALANCE by KZ
4. Purchased inventory for PKR 50,000 cash and on credit PKR 30,000 from B
6. Purchased cleaning supplies for cash PKR 5,000
10. Paid prepaid insurance PKR 10,000
15. Sold inventory for cash PKR 300,000
18. Paid to B PKR 20,000
19. Received long-term loan from bank, PKR 200,000
20. Paid internet and communication expenses in cash, PKR 10,000
30. Paid wages PKR 40,000
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
Question 16:
Zeeshan invested PKR 900,000 in cash and office equipment valued at PKR 70,000.
Purchased inventory for cash of PKR 120,000.
Purchased goods on credit from Salman for PKR 15,000.
Sold goods for cash PKR 85,000.
Sold goods on credit to Haris PKR 100,000.
Paid warehouse rent of PKR 18,000 in cash.
Paid the telephone and internet bill of PKR 25,000.
Deposited PKR 60,000 into the business bank account.
Withdrew PKR 5,000 from the bank for Zeeshan’s personal use.
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
Question 17:
Ahmed, the proprietor, invested PKR 850,000 and office equipment valued at PKR 70,000.
Purchased goods for resale for cash PKR 120,000.
Purchased goods on credit from Usama, PKR 20,000.
Sold goods for cash PKR 90,000.
Sold goods on credit to Taha for PKR 110,000.
Paid building rent of PKR 18,000 in cash.
Paid internet and telephone charges of PKR 25,000.
Salaries paid PKR 50,000
Required:
a) Prepare General Journal Entries of the above transaction
b) Posting in T–Account with balancing
c) Prepare Trial Balance
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