Q1: define financial institution, and explain their role as intermediators?

Q2: In 1/1/2022 the Gulf started its businesses in Bahrain with the capital of 20000000 BD. 8000000 is deposited on the central bank, 5000000 deposited on Arab Bank, and 1000000 deposited on National of Bahrain bank, and the rest of the capital kept on the bank cash.

The following transaction happened on January 2022

1. On 2/1/2022 Withdrawing 3500000 cash from the central bank and deposit them on Arab Bank

2. 2/1/2022, Withdrawing 1000000 from Arab Bank and deposit the money in the central bank National of Bahrain bank

3. 2/1/2022, 250000 BD paid cash to payment fund on the bank

4. 5/1/2022 The bank paid cash from the payment fund account 50000BD rent of the bank offices and 10000 BD Stationary

5. The bank purchased furniture cost of 75000BD, And laptops cost of 25000BD paid by check to Arab Bank

6. 14/1/2022 The bank purchased computers (PC) cost of 50000BD , paid by check to National of Bahrain bank

7. 15/1/2022 The bank purchased cars, the cost was 50000, paid by check to Arab Bank

8. 31/1/2022 The amounts that the bank received by the receipt account was 250000 as follows.

100000 BD Current accounts

120000 BD saving accounts

30000 BD debit accounts

9. 31/1/2022 The amounts that the accounts Withdrawing from bank accounts cash were 150000 as follows.

50000 BD Current accounts

100000 BD saving accounts

10. 31/1/2022 The bank collected the service fees from the bank accounts as follows

1500 BD from current accounts

1000 BD from saving accounts

Requirements:

Record the financial transactions on Gulf bank books

Prepare the ledgers for all accounts and show the balance for each

Prepare the trail balance