Name SUNIL RAJARAM PATIL

BITS ID 2017HB59034

Date Details of transaction Capital Acc. Payable Notes Payable

1-Jan Position on 31-Jan 55,000 20,000

Merchandise was sold for 12,000 in

4-Jan cash that had cost 7000.

To increase inventory, Marvin placed

an order with Star Company for
6-Jan merchandise that would cost 7000.
Marvin received the merchandise
ordered from Star and agreed to pay
8-Jan 7000 in 30 days. 7,000
Merchandise costing 1,500 was sold
11-Jan for 2,500 in cash.

Merchandise costing 2,000 was sold

16-Jan for 3,400 on 30-days credit.
Marvin paid employees for the
26-Jan month 4,200 in cash.
29-Jan Purchased land for 20,000 in cash.
Marvin purchased a 2-year insurance
31-Jan policy for 2,800 in cash.
TOTAL 55,000 7,000 20,000
Retained Earning
(RE) Inventory (I) Cash (C) Acc. Recivable Other assets

50,000 25,000

5,000 (7,000) 12,000

7,000

1,000 (1,500) 2,500

1,400 (2,000) 3,400

(4,200) (4,200)
(20,000) 20,000

(2,800) 2,800
3,200 46,500 12,500 3,400 22,800
Remarks Marvin and Co. Balance sheet as of January 31
Equity and Liabilities Assets

Sales 12000, cash 12000,

inventory (7000), cost of goods Capital 55,000 Cash 12,500
sold (7000)

Retained Accounts
3,200 3,400
earnings receivable
No effect

Accounts
Inventory 7000, accounts payable 7,000 Inventory 46,500
payable
7000
Inventory (1500), cash 2500, cost Notes payable 20,000 Land 20,000
of goods sold (1500)
Inventory (2000), cost of goods
sold (2000), accounts recivable Paid insurance 2,800
3400, sales 3400
TOTAL 85,200 TOTAL 85,200
Expenses (4200)
Land 20,000

Paid insurance 2800