Question
An agricultural engineer, Sawsan founded a company that sells agricultural materials. And she started her business with that On January 20, 2003, she bought a
An agricultural engineer, Sawsan founded a company that sells agricultural materials. And she started her business with that On January 20, 2003, she bought a shop for $ 5,000 and deposited $ 16,000 in the bank on February 2 2003 to start work. On 3/10, I withdrew $ 1,000 from the bank and deposited it in the fund On 3/15, she bought a transport vehicle for $ 8,000 and issued a check to be paid after a week (its useful life is 7 years, the scrap value is 1,000 dinars). On 3/16, she bought fuel and truck oils for $ 500, which she paid in cash from the fund. On 3/17 I obtained a loan of $ 10,000 from the Agricultural Credit Corporation for a period of five years and deposited it in the institutions account in the bank (with an interest of 8% and paid in five equal installments of the principal amount with interest on the remaining balance) On 3/22, a notice was received from the bank stating that an amount of $ 8,000 was disbursed from the account to cover the drawn check On 4/15, she purchased spare parts for the maintenance of the transport vehicle, at a value of $ 400, with a check drawn on the bank paid on the date. On 5/16 it bought fertilizers and agricultural pesticides at a value of $ 2,500 from the Hamdan Agricultural Products Company with a deferred debt for the next year to be paid on 2/2/2004 On 27/6, it sold fertilizers and pesticides for a value of $ 2,700, of which it took $ 700 in cash and deposited it with the fund, and the rest by a bill payable after a month and delivered it to the bank for collection. On the date of 27/8, a notice came from the bank stating that the amount of the bill had been collected and added to the current balance in the bank On 8/30, a notice came from the bank stating that an amount of $ 50 was credited as credit interest on the deposited amount On 9/9 it provided agricultural services to the Amman Municipality with a value of $ 4000, from which it took in cash $ 2000 and deposited it with the fund, and the rest is a debt owed by the Municipality of Amman due next year on 3/1/2004. On October 20, I withdrew from the bank the amount of the installment and interest and paid it to the Agricultural Credit Corporation At the end of the year, she conducted a manual inventory of warehouses and found fertilizers and pesticides worth $ 1,500. Required: Record these financial operations in the journal of Eng. Sawsan until December 31, 2003 Prepare settlement accounts (for a van) to post to the balance sheet Prepare the trial balance Post accounts to the ledger Prepare the profit and loss account for the fiscal year ending 01/01/2003 to 31/12/2003 Prepare the list of property rights as it is on December 31, 2003 Prepare the balance sheet as it is on December 31, 2003 Extract common financial ratios
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