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Question 1- The trial balance of Makkah Inc: Credit Debit 15,000 Account title Cash Account payable Retained earnings Total 10,000 5,000 15,000 15,000 Makkah, Inc., completed the following transactions during April 2016: a. Received $18,200 and issued ordinary shares. b. Purchased $200 office supplies on account. C. Paid $15,200 cash for land to use as a building site. d. Performed service for customers and received cash of $3,300. e. Paid $100 on accounts payable. f. Performed service for ShipEx on account totaling $2,100. g. Collected $1,000 from ShipEx on account. h. Paid the following expenses: salary, $1,200; rent, $600. Requirements 1. Record the transactions in the journal of Makkah, Inc and include a description for each entry. 2. After journalizing the transactions, post the entries to the ledger, using T-accounts. 3. Prepare the trial balance of Makkah Inc., at April 30, 2016. 4. How much are total assets, total liabilities, and total shareholders' equity on April 30? Question 2- Date Item Quantity Unit Cost Total Cost 400 Jan 1st Beginning inventory Feb 4th $9 Purchase Purchase 270 200 March 22nd 20 $10 Requirement: The total units sold during the period is 85 units. Calculate the cost of goods sold using the three methods: FIFO, LIFO, and average cost. 1. Journal entry Trans Accounts & Explanations Debit Credit