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1. Create a company in the name of Section-E (Student ID) (Student Name)and enter the following transactions. Mr. Abdullah started a business with a cash
1. Create a company in the name of Section-E (Student ID) (Student Name)"and enter the following transactions. Mr. Abdullah started a business with a cash of OMR 300,000 as capital. He deposited OMR 95,000 in Bank Muscat. Purchased Land and Building for OMR 35,000, Plant and Machinery for OMR20,000 and Furniture for OMR 25,000 by check. (iv) Placed an order for purchase of goods from Camel Industries OMR 27,000 () Withdrew goods for personal use OMR 2,000 (vi) Paid Salary OMR 6,000, Rent OMR 3,000 and other expenses OMR 5,000 (vii) Cash sales OMR 55,000 (viii) Sold furniture worth OMR 3,000 for OMR 2,800 (ix) Purchased Office equipment from Kim Traders for OMR 24,000 Sold goods to Mr. Joseph OMR 15,000 (xi) Paid Camel Industries OMR 25,000 (xii) Received cash from Mr. Joseph OMR 12,000 (xiii) Brought in additional capital OMR 55,000 (xiv) Paid in full settlement to Camel Industries OMR 1,500. After entering all the transaction submit the following documents in PDF format Trial Balance in detail) (3 marks) Day Book (in detail)( 7 marks) 1. Create a company in the name of Section-E (Student ID) (Student Name)"and enter the following transactions. Mr. Abdullah started a business with a cash of OMR 300,000 as capital. He deposited OMR 95,000 in Bank Muscat. Purchased Land and Building for OMR 35,000, Plant and Machinery for OMR20,000 and Furniture for OMR 25,000 by check. (iv) Placed an order for purchase of goods from Camel Industries OMR 27,000 () Withdrew goods for personal use OMR 2,000 (vi) Paid Salary OMR 6,000, Rent OMR 3,000 and other expenses OMR 5,000 (vii) Cash sales OMR 55,000 (viii) Sold furniture worth OMR 3,000 for OMR 2,800 (ix) Purchased Office equipment from Kim Traders for OMR 24,000 Sold goods to Mr. Joseph OMR 15,000 (xi) Paid Camel Industries OMR 25,000 (xii) Received cash from Mr. Joseph OMR 12,000 (xiii) Brought in additional capital OMR 55,000 (xiv) Paid in full settlement to Camel Industries OMR 1,500. After entering all the transaction submit the following documents in PDF format Trial Balance in detail) (3 marks) Day Book (in detail)( 7 marks)
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