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Old Sunday, September 01, 2013
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Quote:
Originally Posted by babar saeed malik View Post
can any senior help me to solve the question 2 of paper 1... i just dont get how to solve it... please help soon... thanx
My dear, first of all make journal entries and then income statement which will produce income/ loss. After that you shall add or subtract the Income or loss as the case may be in your statement of owner equity. Finally, make Balance sheet. Principle of Accounting book by Meigs and Meigs is full of such type of question in Chapter 3 or 4. Its simple.
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