Additional Information related Robo Technology On 30 November, Robo Technology purchased supplies on credit worth BHD230. The accountant recorded the transaction as follows: Debit Credit Supplies BHD230 Trade Receivables BHD230 The prepaid insurance of BHD12,600 relates to an insurance premium paid on 30 November to cover 12 months, effective from 1 December 2021. On 1 December, Robo Technology purchased additional equipment on account to use in business operations with a purchase price of BHD4,800, transportation cost of BHD10, insurance while in transit costing BHD30 and discount of BHD250. On 2 December, the owner of Robo Technology invested additional cash BHD80,000 On 3 December, the customer returned one Huawei Nova 71 128GB Midnight Black 4G Dual Sim Smartphone 1 December Receipt no 152. On 24 December, the owner of Robo Technology withdrew BHD1,200 from the business bank account On 24 December, Robo Technology invested in ordinary shares BHD36,000 with the intent of selling the investment in the very near future for a quick profit. On 31 December, Robo Technology signed a mortgage loan agreement to purchase a Land with Bank of Bahrain and Kuwait (BHD25,000 as a down payment and a 25-year mortgage for BHD60,000). Robo Technology has the policy to pay current month salaries on the second day of the next month. The total salaries for the month of November and December 2021 amounts to BHD45,250 per month On 31 December, Robo Technology returned Google Pixel Slate 12.3-inch 2 in 1 Tablet Intel Core 15, 8GB RAM, 128GB, Midnight Blue BHD690 (cost BHD657 and VAT 33) to Google. Robo Technology estimated the allowance for receivables at 2% of trade receivables. Robo Technology determines the amount of inventory at the end of each accounting period, following a physical inventory count Analysis at the close of business in December shows that BHD1,000 of supplies are still on hand. Additional Information related Robo Technology On 30 November, Robo Technology purchased supplies on credit worth BHD230. The accountant recorded the transaction as follows: Debit Credit Supplies BHD230 Trade Receivables BHD230 The prepaid insurance of BHD12,600 relates to an insurance premium paid on 30 November to cover 12 months, effective from 1 December 2021. On 1 December, Robo Technology purchased additional equipment on account to use in business operations with a purchase price of BHD4,800, transportation cost of BHD10, insurance while in transit costing BHD30 and discount of BHD250. On 2 December, the owner of Robo Technology invested additional cash BHD80,000 On 3 December, the customer returned one Huawei Nova 71 128GB Midnight Black 4G Dual Sim Smartphone 1 December Receipt no 152. On 24 December, the owner of Robo Technology withdrew BHD1,200 from the business bank account On 24 December, Robo Technology invested in ordinary shares BHD36,000 with the intent of selling the investment in the very near future for a quick profit. On 31 December, Robo Technology signed a mortgage loan agreement to purchase a Land with Bank of Bahrain and Kuwait (BHD25,000 as a down payment and a 25-year mortgage for BHD60,000). Robo Technology has the policy to pay current month salaries on the second day of the next month. The total salaries for the month of November and December 2021 amounts to BHD45,250 per month On 31 December, Robo Technology returned Google Pixel Slate 12.3-inch 2 in 1 Tablet Intel Core 15, 8GB RAM, 128GB, Midnight Blue BHD690 (cost BHD657 and VAT 33) to Google. Robo Technology estimated the allowance for receivables at 2% of trade receivables. Robo Technology determines the amount of inventory at the end of each accounting period, following a physical inventory count Analysis at the close of business in December shows that BHD1,000 of supplies are still on hand
