Case study/Scenario analysis/ Analytical Type Questions (50 MARKS) You are a newly appointed accountant in Al Lamki Computer Services, Nirwa, Oman. P.O.Box: 9317 PC: 211, Tel 24813055. Mr. Abdullah is the owner of the enterprise. The company has been maintaining the books of accounts manually. Now the company wants to maintain the accounts by using Tally. ERP 9 software. The following are the transactions of Mr. Abdullah for the month of January to March 2020. Question No 1: (22 Marks) You are required to prepare journal entries showing the correct amounts and voucher types. (Each correct entry carries 1 mark) Transactions for the month of January 2020 Transactions Date of Transaction 1-1-2020 Mr. Abdullah introduced an additional capital of RO 200000, out of which he deposited RO 100000 into (BANK MUSCAT) 3-1-2020 4-1-2020 15-1-2020 Mr. Abdullah issued BANK MUSCAT cheque of RO 30,000 to Al hind Traders. Mr. Abdullah received cash of RO 12600 from Sharjah Info tech. Mr. Abdullah withdrew RO 10000 cash for personal use. Mr. Abdullah deposited cash RO 6000 in BANK MUSCAT. Mr. Abdullah paid RO 1000 in cash towards office maintenance charges for RO July 2020 17-1-2020 18-1-2020 20-1-2020 Mr. Abdullah paid cheque (BANK MUSCAT) of RO 3000 for insurance of fixed assets. Mr. Abdullah withdrew RO 24000 cash from BANK MUSCAT. 25-1-2020 Page 3 of 6 30-1-2020 Received consulting revenue RO 4800 cash 31-1-2020 Received interest income of RO 11600 from Pioneer Cement Company. Transactions for the month of February 2020 of Transactions Date Transaction 1-2-2020 Mr. Abdullah issued a cheque (BANK MUSCAT) and purchase the following fixed assets 1. A cell phone RO 1000 2. Air Conditioner for RO 3200 3. Electrical fittings RO 1200 2-2-2020 Mr. Abdullah paid salaries to Ms. Naseera RO 2000 and Mr. Ali RO 1000 for the month of January. 3-2-2020 4-2-2020 15-2-2020 17-2-2020 Mr. Abdullah entered into a contract with Al Nabha Services for providing consultancy services at an agreed price of RO 30,000. He received an advance of RO 10,000 by Cheque. Mr. Abdullah received an invoice for RO 7000 raised by Ink and Paper Publisher for printing Office stationery. Mr. Abdullah raised an invoice for RO 30,000 on Al Nabha Services after completion of the service. Al Nabha Services paid the balance amount of RO 20,000 in cash after deducting the advance paid. Mr. Abdullah received an invoice for RO 12,000 from Muscat Transport for maintenance service provided by them. Mr. Abdullah paid RO 2000 in cash as salary advance to Ms. Naseera Mr. Abdullah raised an invoice for RO 20,000 on United Media Production for services provided. The terms on credit are 30 days Invoice No. AB25 United Media productions settled the bill for final amount of RO 19800 by paying RO 7800 in cash and RO 12000 by Cheque. Mr. Abdullah paid RO 600 in cash towards electricity charges for two months. 18-2-2020 20-2-2020 25-2-2020 26-2-2020 Page 4 of 6 27-2-2020 Mr. Abdullah received RO 5000 for services rendered from various clients. 28-2-2020 Mr. Abdullah Purchased office furniture from Zubair furnishing LLC, RO 5000 paying RO 2000 down, the balance in 10 days. (Bill No. N12 Dabe |--2020 Type Receipt Contra Cash Bank M Amount capital 200.000 cash 100.000 Bank M e sempit 30 000 Allinel Traders 13-1-2020 payment Receipt Cash Tech 14-1-2020 12600 Sharjah Info 10.000 15-1-2020 cash payment Drawing cash Bank Muscat 6000 17-1-2020 Contra 18-1-2020 office maintenance cash Payment Bank M seope Insurance 20.00 20-1-2020 Payment cash 25.1-2020 24 Doo Bank Muscat Contra 30-1-2020 cash Consulting revenue 4800 Receipt (31-1-2020 interest income Pioneer cement Co. 11 600 Receipt doua 0.1 February Date Cell Phone 1000 Aic.cedition 2203 12.00 M.Nasetra Cash 2000 McAli 1000 B.-2020 Al Nabha Sesices. Cartelle - 30 000 Bank Muscat Al Nabha 4-2-2000 Call Printing Alice 7000 Payment Sales Receipt Recept 15-2-old cash 11.2.2. Maintenance Service | Al Nabha Servies 20.000 Muscat 12.000 Transport 2000 Receipt Purchase 18-2-20 Ms. Naseera Payment 20-2 United Media Produchim Sevice 20.000 sales 125-2 Sellel the hill Payment cash Bank M cash 7200 2000 16.00 126-2 Eecksicity charages Payment (27-2 cash Sales services 50.00 Receipt 5000 28-2 office furniture Zubair LLC Zubair furnishing LLe cash Journal Payment
