Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 13 Ms. Latifa started her own nutrition consultancy called Dr. Nutrition Inc. Following is the chart of accounts for the month of January 2020.

image text in transcribed
Question 13 Ms. Latifa started her own nutrition consultancy called Dr. Nutrition Inc. Following is the chart of accounts for the month of January 2020. Latifa, capital Latifa, withdrawal Office equipment Accounts receivable Cash Consultancy fees earned Note payable Prepaid rent Required: Using the template provided below (you should copy (Ctri-c) and paste (Ctri-v) it into your answer area), prepare journal entries to record the tra Jan. 1 Latifa invested cash AED 250,000 and equipment of AED 10,000 to start the clinic 2 Purchased medical equipment for AED 25,600. Paid cash AED 15,000 and gave note payable for the remaining amount 8 Paid 12 months rent of AED 80,000 for the clinic 10 Provided nutrition advise to ABC Company managers, AED 15,825 on account 18 Received payment in full from ABC Company for the service provided on January 10th 20 Paid the balance due on note payable in transaction (2) 27 Latifa withdrew AED 12,600 cash from the clinic for personal use

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Ethical Obligations And Decision Making

Authors: Steven Mintz

1st Edition

0078025281, 9780078025280

More Books

Students also viewed these Accounting questions

Question

Always show respect for the other person or persons.

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago