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Problem 1. Mr. Asim started his business (Computer Repair) in Nizwa in July 2019. During the month of July, the following transactions occurred: (7.5 Marks)

Problem 1. Mr. Asim started his business (Computer Repair) in Nizwa in July 2019. During the month of July, the following transactions occurred: (7.5 Marks)

July 1

Asim opened the business by investing OMR 92,000.

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 2nd.

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 15th, OMR 16,000.

July 25

Received the electricity bill, OMR 400 which will be paid at the end of July.

July 26

Asim received Internet bill, OMR 120 which will be paid at the end of the month.

July 31

Paid the Internet bill received on 26th July.

July 31

July 31

Asim paid monthly rent, OMR 400.

Paid the Electricity bill, OMR 400

  1. 1.Prepare journal
  2. Prepare ledger
  3. Prepare unadjusted trial balance Asim as of July 31st 2019.

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