Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
3. Identify the ledger accounts required to record the following transaction in Tally 9 Date Amount (in RO) 2018 Jan 1 Opening Balances : Buildings
3. Identify the ledger accounts required to record the following transaction in Tally 9 Date Amount (in RO) 2018 Jan 1 Opening Balances : Buildings 40,000 Cash 25.000 Machinery 30,000 Al Anwar Trading LLC 15,000 (Dr) Al Mawarid Company 20,000 (Cr) Capital Jan 2 Deposited into Bank 15.000 Jan 31 Purchased goods and paid by cheque 5,000 Feb 1 Purchased goods from Musandam Marketing and Trading 10,000 Co. and got 5% trade discount Feb 2 Brought additional capital into business 25,000 Mar 1 Received from Al Anwar Trading LLC in full settlement 14,500 by cheque Mar 2 Goods distributed as free samples 2.000 Mar 31 Cash purchases 3.500 Sold goods to Oman International Trading LLC and 12.000 offered 7% trade discount Apr 2 Goods returned to Musandam Marketing and Trading Co. 500 Goods taken by proprietor for personal use 1500 May 2 Paid Insurance premium 250 May 31 Purchased Furniture from Taghleef Industrial Company 20,000 June 1 Sold goods to Tomoor Oman and offered 10% cash 8,000 discount June 2 Received Commission 750 July 1 Goods returned by Oman International Trading LLC 600 July 2 Paid Musandam Marketing and Trading Co. by cheque 6,000 July 31 Received from Oman International Trading LLC 4,500 Aug 1 Cash taken by proprietor for personal use 2.000 Sold machinery worth of RO 3500 for RO 2800 Aug 31 Withdrew from bank 2,500 Sep 1 Paid Musandam Marketing and Trading Co. in full 2,700 settlement Received from Oman International Trading LLC in full 5.800 settlement Oct 1 Paid salaries and Wages through bank transfer 3,000 Oct 2 Paid the amount due to Al Mawarid Company Apr 1 May 1 Aug 2 Sep 2
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/668eb83f95164_311668eb83f1e102.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started