Question
On 1/1/2023, Ibrahim started his commercial work in a company he called Al-Akhwa Trading Company, with a capital of 700,000 riyals, his details are as
On 1/1/2023, Ibrahim started his commercial work in a company he called Al-Akhwa Trading Company, with a capital of 700,000 riyals, his details are as follows: cars 225,000 riyals, goods 170,000 riyals, and a fund 305,000 riyals. The following are the financial transactions during the month of January: 1. On 1/2, furniture was purchased for 45,000 riyals in cash. 2. On 1/3, goods were purchased from one of the creditors for an amount of 730,000 riyals on the account. 3. On 1/5 Ibrahim decided to increase the capital by adding 23,000 riyals to the fund. 4. On 7/1, goods were sold to a customer for an amount of 34,000 riyals on account, and the cost of the sold goods was 25,000 riyals. 5. The amount of 165,000 riyals was paid in cash to the creditors. 6. On 10/1, the company agreed to sell goods to customer Saleh for an amount of 30,000 on the account, noting that the cost of the sold goods is 20,000 riyals and the date of the sale is in May. 7. On 11/1, Ibrahim paid $41,000 from his own money to creditors, and the amount was considered an addition to the capital. 8. On 15/1, goods were sold to a customer for an amount of 96,000 riyals, 52,000 riyals of which were received in cash and the rest on account, noting that the cost of the sold goods is 80,000 riyals. 9. The salaries of workers and employees for the month of January were paid in the amount of 10,000 riyals in cash. 10. The electricity bill for the month of January was paid in the amount of 3000 riyals in cash. Required: 1. Analyzing financial transactions into the debit and credit sides. 2. Preparing the general daily entries for the operations described above in the brothers' company. 3. Statement of the impact of the previous operations on each of the H/ Fund, and H/ the capital in the general ledger
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