Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Course: Question Below is information related to Dubai Trading Co though September 2015 1. On Sep 1, the company started the Business with Capital of

image text in transcribed
Course: Question Below is information related to Dubai Trading Co though September 2015 1. On Sep 1, the company started the Business with Capital of 400,000 Dhs. deposited in the ADIB Bank 2- On October 3, Dubai Trading Co. Borrowed 50,000 Dhs. from ABC Bank (Bank loan) received the amount cash 3- On October 6, Dubai Trading Co. purchased office equipment from Noor Co. on Credit costs 60,000 Dhs. 4. On October 10, Dubai Trading Co. transferred 20,000 Dhs. from the cash to the ADIB Bank. 5. On October 12, Dubai Trading Co. Purchased product from Liza Co. for 30,000 Dhs., paid 10,000 Cash the balance on Credit 6- On October 15, Dubai Trading Co. sold product for 16,000 Dhs. cash 7- On October 20, Dubai Trading co. sold product for 35,000 Dhs. to Ali on credit. 8- On October 25, Dubai Trading co. paid 10,000 DHS. to Liza by chick at ADIB Bank. 9. On October 28, Dubai trading co. paid 45,000 DHS. Employees' salaries from ADIB Bank. 10- On October 30, Dubai Trading co. paid 2000 Dhs Utilities Expanses Cash. Instructions 1. Journalize these transactions in the Dubai Co. General Journal 2- Post all accounts to the General ledger 3. Prepare the Trial Balance for Dubai Co. as on October 31,2015

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Concepts For A Changing Environment

Authors: Larry E. Rittenberg, Bradley J. Schwieger

5th Edition

0324223102, 978-0324223101

More Books

Students also viewed these Accounting questions

Question

Android versions and its feature set

Answered: 1 week ago