1) After graduating university with a business degree, and after several months of planning, Hamad Yousif a UOB graduate has decided to open a car shop called GetFixed.

Prepare journal entry for the following transaction:

• On September 1^st 2020, Yousif have invested BD2000 Cash and BD8000 of Machinery in GetFixed. (Select the correct answer)

1. "Dr - Machinery 10,000"

   "Cr - Equity 10,000"

2. "Dr - Cash BD2,000 & Machinery BD8,000"

   "Cr - Capital BD10,000"

3. "Dr - Equity BD10,000"

   "Cr - Cash BD2,000 & Machinery BD8,000)

4. "Dr - Cash 10,000"

   "Cr - Capital 10,000"

2) After graduating university with a business degree, and after several months of planning, Hamad Yousif a UOB graduate has decided to open a car shop called GetFixed.

Prepare journal entry for the following transaction:

• On September 3^rd, GetFixed has purchased BD3000 worth of Equipment on credit. (Select the correct answer)

1. "Dr - Equipment BD3000"

   "Cr - Cash BD3000"

2. "Dr - Cash BD3000"

   "Cr - Equipment BD3000"

3. "Dr - Equipment BD3000"

   "Cr- Ac's payable BD3000"

4. None of the answers

3) After graduating university with a business degree, and after several months of planning, Hamad Yousif a UOB graduate has decided to open a car shop called GetFixed.

Prepare journal entry for the following transaction:

• On September 10^th, GetFixed paid BD500 Salaries in cash. (Select the correct answer)

1. "Dr - Salary Expense BD500"

   "Cr - Cash BD500"

2. "Dr - Cash BD500"

   "Cr - Salary Expense BD 500"

3. "Dr - Salary payable BD500"

   "Cr - Cash BD500"

4. "Dr - Salary expense BD500"

   "Cr - Salary payable BD500"

4) After graduating university with a business degree, and after several months of planning, Hamad Yousif a UOB graduate has decided to open a car shop called GetFixed.

Prepare journal entry for the following transaction:

• On September 15^th, GetFixed received an amount of BD300 for providing mechanical services. (Select the correct answer)

1. "Dr - Mechanical services provided BD300"

   "Cr - Cash BD300"

2. "Dr - Cash BD300"

   "Cr - Mechanical services Revenue BD300"

3. "Dr - Cash BD300"

   "Cr - Unearned services provided BD300"

4. "Dr - Unearned services provided BD300"

   "Cr - Cash BD300"

5) After graduating university with a business degree, and after several months of planning, Hamad Yousif a UOB graduate has decided to open a car shop called GetFixed.

Prepare journal entry for the following transaction:

• On September 31^st, Yousif withdrew BD100 for personal use. (Select the correct answer)

1. "Dr - Cash BD100"

   "Cr - Equity BD100"

2. "Dr - Withdrawals BD100"

   "Cr - Cash BD100"

3. "Dr - Equity BD100"

   "Cr - Cash BD100"

4. "Dr - Cash BD100"

   "Cr - Withdrawals BD100"

6) After preparing the Journal Entries for GetFixed.

• Prepare Trial Balance on September 31st 2020.

7) After preparing Journal entries for GetFixed, & Preparing the Trial Balance:

1) Calculate Ending Equity

&

2) Prepare Balance Sheet on September 31st 2020.