Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1-(Seen) Mobile Maintenance Company started with a capital of 100,000 riyals, which was received in cash. 2-The company (S) bought tasks on the account for

1-(Seen) Mobile Maintenance Company started with a capital of 100,000 riyals, which was received in cash.

2-The company (S) bought tasks on the account for an amount of 8,000 riyals, to be paid within 30 days

3-Company (S) provided services to customers with revenues of 15,000 riyals and received them in cash

4-The company (Sen) provided services to customers with revenues of 7,000 riyals, which were obtained from them within 30 days 5-Company (S) bought a plot of land for 80,000 riyals in cash

6-Company (S) paid the following expenses in cash: 2,000 riyals for service expenses, 2,500 riyals for shop rent, 3,000 riyals for workers' salaries.

7-The company (S) has collected an amount of 2000 riyals in cash from customers in relation to transaction No. 4 above

8- Company (S) paid 2,500 riyals to creditors in connection with transaction No. 2 above.

9- Company (S) sold half of the plot of land for 45,000 riyals. (Transaction No. 5 above)

10- The company (S) announced dividends to shareholders in the amount of 10,3000 riyals, and it was paid to them in cash

Required 1- Analyze the transactions numbered from 1 to 3 above using the basic accounting equation. 2- Make daily entries for the transactions numbered from 4 to 10 above. 3- Copying (prepare the following accounts in the general ledger 1- Account / Cash 2- Account / Creditors 4 numbers of the following: 1- The company's trial balance 2- The company's income statement 3- The company's financial position statement.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A Survey Of Financial And Managerial Accounting

Authors: Roger H. Hermanson, Roland F. Salmonson, James D. Edwards

5th Edition

025606976X, 978-0256069761

More Books

Students also viewed these Accounting questions