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Analyze the above transactions by using the financial accounting equation During the month of December 2022, the following events and transactions occurred: 1. 1st Dec,
Analyze the above transactions by using the financial accounting equation
During the month of December 2022, the following events and transactions occurred: 1. 1st Dec, Shareholders invested 50,000SAR, cash in exchange for ordinary shares. 2. 2nd Dec, Hired employees to begin work on December 27th, at a salary of 4,000 SAR per month. 3. 3rd Dec, Purchased 2,500 SAR of supplies on account. 4. 7th Dec, Paid office rent of 1,000 SAR cash for the month of December. 5. 10th Dec, Received cash of 1,200 SAR for services performed. 6. 15th Dec, Completed a tax assignment and billed client 5,800 SAR for services performed for Como Company on account. 7. 20th Dec, Received 3,500SAR cash advance on a management consulting engagement. 8. 24th Dec, Received cash of 5,800 SAR for services performed for Como Company. 9. 27th Dec, Paid employees 4,000 SAR salary for the month in cash. 10. 31st Dec, Paid dividend 2,000 SAR cash Step by Step Solution
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