Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

I want a work sheet for this transactions, include income statement + balance sheet On October 1, 2018 Abdullah formed Accounting Consulting Co. to provide

I want a work sheet for this transactions, include income statement + balance sheet
image text in transcribed
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 1,500, Accounts Payable 8,500 , Owner capital 80,000 During the last quarter of the year 2019, the following transactions occurred: 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions