Q.1 xyz company provides transportation between major airports in various business centers. Transactions during the month of April 2013 are as below: 1. On April 3rd the owner deposited $

Q.1 xyz company provides transportation between major airports in various business centers. Transactions during the month of April 2013 are as below: 1. On April 3rd the owner deposited $ 80,000/- into the business bank account. 2. On April 5th paid $ 3520/- rent for hangar space. 3. On April 10th placed advertisement in local newspaper for publication during April. The agreed price of $ 4000/- was payable within ten days after the end of the month. 4. On April 14th cash receipts from passengers for the first half of April amounted to $ 23160/- 5. On April 17th, paid salaries to employees for services rendered in first half of April, $. 18200/- 6. On April 20th, provided transportation for Executives of ABC Corporation a bill of $ 4700/- Was Sent, payable within 30 days. 7. On April 22nd, paid $ 14000/- for Repair and Maintenance Work during April. 8. On April 25th, received a bill for fuel used in April amounting to $ 12000/- and Payable by May 10th . 9. On April 28th, the owner withdrew $ 2000/- cash for Personal use. Instructions : Analyze the above transactions b. Prepare Journal entries c. Post to ledger accounts in proper order d. Prepare a Trial Balance on April 30th 2013 in proper order e. Prepare income statement for April, 2013 f. Prepare Balance Sheet on April 30th 2013 in account format

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