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prepare a cash flow statment 4 Event No. Transaction 1 AMT Engineering acquired OMR 100,000 by issue of Common Stock 2 The owner took OMR
prepare a cash flow statment
4 Event No. Transaction 1 AMT Engineering acquired OMR 100,000 by issue of Common Stock 2 The owner took OMR 50.000 as loan from Bank Muscat 3 Opened an account in Bank Muscat (Current Account). An amount of OMR50,000 deposited into the account Rented an office. An advance of OMR12,000 is paid by issue of a bunk cheque $ Purchased office furniture OMR5,000 on crodit from Fahmy Furnitures 6 Bought office supplies paying OMRS.000, 7 Bought a car from Saud Balwan for OMR:10,000. The amount is paid by the issue of a bank cheque Paid the amount due to Fahmy Furniture in cash Collected OMR 40,000 as advance to provide future services ever a cee year period starting from July 1.2020 10 Received comsulting revenue from a customer OMR40,000 11 Paid OMR30,000 as salaries to the stat Paid utilities charges OMR400 13 Traveling expenses paid OMR 100 Received OMR25,000 as consulting revenue from MM Projects 15 Paid OMR500 towards insurance premium. The premium is paid for one year starting from 1 July 2020. 16 Oflice upplies purchased on account OMR2,000 17 Bought computers for office OMR 1.500 18 Provided consulting service on account OMR 10,000 19 Interest on loan paid OMR 750 20 Purchased land paying OMR 100,000 21 Dividend paid OMR 10.000 22 Received OMR5,000 from account receivable 12 Adjustment 1. Salary paid only for 10 months 2. A physical examination of supplies revealed that supplies worth OMR2,000 are currently available for future use. 3. Insurance premium is paid from 1 July 2020 4. Interest due on loan OMR2,000 5. As of December 31, 2020, AMT Engineering had earned OMR 20,000 of the OMR40,000 received in Event 9. 6. The advance rent is paid for one year starting from 1 July, 2020 Step by Step Solution
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