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Question (1) Mr. Mohammed Started his new business in 1st of October 2020 and we extracted the following transactions from his regards. 1. 1st
Question (1) Mr. Mohammed Started his new business in 1st of October 2020 and we extracted the following transactions from his regards. 1. 1st October 2020, Cash bought in by Mohammed as capital with SR. 200000. 2. 2ed October 2020, Paid 12,000 for one year fire insurance policy, coverage began on October 1. 3. 3rd October 2020, Received a bill from AL Jazerah News for S.R.300 for newspaper advertising.. 4. 5th October 2020, Supplies purchased on credit from Wallmart Co. worth SR. 7500. 5. 6th October 2020, Paid S.R.300 to AL Jazerah News for advertising that was previously billed in october 3. 6. 7th October 2020, Performed services by S.R. 6,200 on account. 7. 15 October 2020, the owner withdrew S.R. 300 for his persona use. 8. 20 October 2020, Receive S.R. 6,200 from customer for services provided in Transaction 6. 9. 25 October 2020, Mohammed owes salaries of S.R. 1000 and paid them in cash. Required: 1- Analyze each transaction for Mohammed company. 2- Journalize transactions 4, 5 and 6 into the Journal. 3 Post the transactions 4, 5 and 6 into ledger.
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