Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mr. Khalid opened his company in Dhofar. Many transactions have occurred during November 2020 which is as follows: Transaction Date Transaction number Novemb er 1

image text in transcribed
Mr. Khalid opened his company in Dhofar. Many transactions have occurred during November 2020 which is as follows: Transaction Date Transaction number Novemb er 1" The owner invested OMR 32,000 cash in the business 2 2 The business purchased office equipment for OMR 8.000 cash. 3 Id The business purchased for OMR 1.300 on account from a supply company computer paper and other supplies expected to last for several months The business received OMR 2,100 cash from customers for programming services it has provided The business provided OMR 1.400 of programming and maintenance services for a customer. It received cash of OMR 700, and it billed the balance on account The business purchased a one year insurance policy for OMR 1,800 cash. 10 The business received OMR 750 for programming services that will provide during the next month 18 The business paid back an amount of OMR 350 to the supplier as a partial settlement of supplies purchased 19 The business teceived a bill from an advertising company of OMR 150 for developing a programming advertisement 10 21 The business received OMR 600 cash from a customer that have been previously provided with programming and maintenance services. 11 23 The business paid the bill due to the advertising company. 12 27 The business owner withdraws OMR 1.600 cash from the business for his personal use 13 29 The business received clectricity bills of OMR 85 and paid it in cash 14 30 The business paid salaries and wages to employees of OMR 1,100 cash IS 30 The business paid store rent of OMR 550 16 Prepare Transaction Analysis, journal entries, Ledger Book, and Trial Balance For the period ended 30th November, Preparation of Financial Statements, and Compare the essential features of each financial account statement to analyse the differences between them in terms purpose, structure and content. (Not less than 200 word)for the previous 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 Routledge Companion To Fair Value In Accounting

Authors: Gilad Livne

1st Edition

0367656132, 9780367656133

More Books

Students also viewed these Accounting questions

Question

your ultimate goal upon graduation (i.e., career goals).

Answered: 1 week ago