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clear hand writing with steps please please do it with xcell On October 1, 2018 Abdullah formed Accounting Consulting Co. to provide accounting services. The

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clear hand writing with steps please
please do it with xcell
On October 1, 2018 Abdullah formed Accounting Consulting Co. to provide accounting services. The following are September 30, 2019 balances from its ledger (Saudi Riyal): Cash 50,000, Accounts Receivable 20,000, Office Supplies 5,000, Office Equipment 15,000 Accumulated Depreciation - Office Equipment 1,300 Accounts Payable 8,500, Owner capital 80,000 During the last quarter of the year 2019. the following transactions occurred: Oct 1, 2019 Prired 2 accountants for a weekly salary of S.R 2,000 each payable monthly Oct 1, 2019 Paid S.R 24,000 to Alnabil Realtors for 6 month's rent paid in advance. Oct 1. 2019 Paid insurance for one year for SR12.000 Oct 10, 2019 Conducted accounting services for customers, S.R 15.000 and only one-third of the amount was received Oct 20, 2019 Purchased a new computer for SR 3.500 cash Oct 31, 2019 Paid employee's salaries of S.R 40,000, Nov 15, 2019 Signed a contract regarding Alburj bookkeeping work and received S.R 100,000 cash from client as an advance payment for services to be completed at the end of January 2020 Nov 28 Received cash from clients on account, S.R 8000 Nov 30, 2019 Paid employee's salaries of SR 35.000, December 2, Received cash S.R 40,000, furniture S.R 20,000, car SR 2019 80.000 as an additional investment from the owner December 31. Withdrew SR 3000 by the owner for personal use 2019 December 31. Paid telephone bill and electricity bill for the period. 4.S.R 2019 1500, SR. 1000, respectively In addition to data mentioned on above transactions, Other data to be used in adjustment: - Office equipment depreciates annually on basis of 10% of its cost: - The December salaries, S.R 25,000, have not been paid or recorded The office performs adjusting entries quarterly. Closing entries are performed annually on December 31 Instructions: a. Journalize and post quarter transactions b. Prepare December 31", 2019 trail baiance c. Use the work sheet d. Journaline and post the necessary adjustments on December 31".2019 e. Prepare an adjusted trail balance at December 31, 2019 f. Prepare the following financial statements 1. Income statement 2. Owner's equity statement 3. Classified balance sheet g. Journalize and post-closing entries at December 31". 2019. h. Prepare post-closing trail balance at December 31", 2019

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