Chapter $2$ Analyzing Transactions

opouble$-$Entry Recording of Accounting Transactions

Example Transaction

A$.$ On October $1,$ ALaissa opens a new business and deposits $12,000$ Riyals in a bank account in the name of Alaissa Company $.$

B$.$ On October $10,$ Alaissa Company purchased supplies on account for $2,000$ Riyals.

C$.$ On October $5,$ Alaissa Company paid $50,000$ riyals for the purchase of land as a future building site.

D$.$ On October $18,$ Alaissa Company received cash of $8,000$ Riyals from customers for services provided.

E$.$ On October $30,$ Alaissa Company incurred the following expenses: wages, $5000$ Riyals : rent, $8000$ Riyals ; utilities, $4000$ Riyals ; and miscellaneous, $200$ Riyals $.$

F$.$ On October $30,$ Alaissa Company paid creditors on account, $9,000$ Riyals $.$

G$.$ Alaissa Company purchased $1,300$ Riyals of supplies on October $10.$ Alaissa determined that the cost of supplies on hand on October $30$ was $500$ Riyals.

H$.$ On October $30,$ Alaissa withdrew $2000$ Riyals from Alaissa Company for personal use.

I. On November $1,$ Alaissa Company paid a premium of $2,000$ Riyals for an insurance policy for liability, theft, and fire. The policy covers a one$-$year period.

J$.$ On November $1,$ Alaissa Company paid rent for November, $8000$ Riyals

K$.$ On November $4,$ Alaissa Company purchased office equipment on account from Executive Supply Co$.$ for $1800$ Riyals.

L$.$ On November $6,$ Alaissa Company paid $1800$ Riyals for a newspaper advertisement.

M$.$ On November $11,$ Alaissa Company paid creditors $4000$ Riyals

N$.$ On November $13,$ Alaissa Company paid a receptionist and a part$-$time assistant $9,000$ Riyals for two weeks' wages.

$0.$ On November $16,$ Alaissa Company received $3,000$ Riyals from fees earned for the first half of December.

P$.$ On November $20,$ Alaissa Company paid $900$ Riyals to Executive Supply Co$.$ on the $1800$ Riyals debt owed from the November $4$ transaction.

Q$.$ On November $21,$ Alaissa Company received $600$ Riyals from customers in payment of their accounts.

R$.$ On November $23,$ Alaissa Company paid $1400$ Riyals for supplies.