Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Date Ref. Debit Credit 15000 The following transactions made by Arab company for the first six 15000 8000 8000 4000 months 4000 200 1. The

image text in transcribed

Date Ref. Debit Credit 15000 The following transactions made by Arab company for the first six 15000 8000 8000 4000 months 4000 200 1. The company issued ordinary 200 shares for 15000$ 800 cash. 800 Account title and Explanation Cash Share capital Equipment cash Equipment Account payable Cash Rent expenses Cash salaries expenses Cash Account receivable Utilities expense cash Equipment Cash Note payable Cash Service revenue Supplies cash 500 2. Purchased 500 equipment for 8000$ cash. 3. Purchased 150 150 equipment for 12000 4000$ on 2000 account. 10000 4. Paid office rent 3000 3000 of 200$ 500 5. Paid salaries of 800$. 500 6. Collected 5000$of account receivable 7. Paid 150$ for utilities. 8. Purchased equipment for 12000 paying 2000$ cash and signed 10000$ note payable. 9. Received 3000 for service provided. 10. Purchased 500$ of supplies for cash. JOURNALIZE THE TRANSACTIONS

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

The Controllers Toolkit

Authors: Christine H. Doxey

1st Edition

1119700647, 9781119700647

More Books

Students also viewed these Accounting questions

Question

What is cultural tourism and why is it growing?

Answered: 1 week ago