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principle of accounting Problem 1. Mr. Asif started his Computer Repair Business in Salalah in July 2020. During the month of July, the following transactions
principle of accounting
Problem 1. Mr. Asif started his Computer Repair Business in Salalah in July 2020. During the month of July, the following transactions occurred: July 1 Asif opened the business by investing OMR 192,000. July 2 Purchased Computers for OMR 20,000 and immediately paid OMR 4,000 and promised the supplier to pay the remaining amount in the future. July 5 Purchased supplies on account for OMR 6,500. July 6 Provided repair service to a customer, OMR 3,600. The customer paid OMR 2,000 and the remaining will be paid in the near future. July 10 Paid the remaining amount for the Computers bought July 2 July 15 Provided repair service to a customer on account, OMR 16,000. July 16 Purchased Printer by cash, OMR 7,000 July 23 Received cash from the client who was billed on July 15", OMR 16,000. July 25 Received the electricity bill, OMR 300 which will be paid at the end of July. July 26 Asif received Internet bill, OMR 120 which will be paid at the end of the month. July 31 Paid the Internet bill received on 26 July July 31 Asif paid monthly rent, OMR 400. July 31 Paid the Electricity bill, OMR 300 Prepare the unadjusted trial balance for Mr. Asif as of July 31" 2020. Required: 1. Prepare journal 2. Prepare ledger 3. Prepare unadjusted trial balance Step by Step Solution
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