Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me Mamdouh opened a real estate services facility on 1/1 1440 and at the end of the fiscal year 30/12 the trial balance

please help me image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Mamdouh opened a real estate services facility on 1/1 1440 and at the end of the fiscal year 30/12 the trial balance was as .follows If you knew that: The rent was paid for a period of one and a half years in advance, starting from 1/1/1440, the remaining office departments amounted to 1,000 riyals. Riyals There are outstanding ,salaries that have not yet been paid amounting to 6000 Riyals Required: Prepare the necessary adjustment entries on 30/12 A statement of the impact of previous operations on the income statement and the statement of financial position on 30/12 ra creditor debtor account name 27000 cash 18000 advance rent le 3000 office supplies 25000 Furniture and appliances 20000 creditors 18000 Advance Securities Income 30000 capital 5000 withdrawals 30000 Real estate services revenue 2000 Electricity expense 18000 salary expense 98000 98000 Total Settlement restrictions debit amo statment Grant/ to h/ Grant/ to h/ Grant/ to h/ Grant/ to h/ Grant/ to h/ ncial position Jiances income list Revenues creditor O Real estate services revenue o Securities income debtor expenses o Electricity expense 0 salary expense o rent expense O office supplies expenses Trial Balance After Adil account name cash advance rent office supplies Furniture and appliar creditors Advance Securities Ir capital withdrawals Real estate services Electricity expense salary expense rent expense office supplies expense Securities income debtors salaries due O net income O Total

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

Sound Investing, Chapter 7 - Cash Versus Accrual

Authors: Kate Mooney

1st Edition

0071719296, 9780071719292

More Books

Students also viewed these Accounting questions

Question

How does an applicant apply?

Answered: 1 week ago