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Question No. 2 Using the same data in Case-1, prepare the unadjusted trial balance. Solve the following problems. Case - 1 After several years with
Question No. 2 Using the same data in Case-1, prepare the unadjusted trial balance.
Solve the following problems. Case - 1 After several years with a large accounting firm, Ahmed decided to establish his own accounting firm. The following transactions were completed during May 2020: May 1. Started the business with OMR 25,000 cash. 5. Deposited OMR 10,000 to Bank Muscat. 8. Bought computers OMR 500 from E-Max, paid 40% and the balance on account. 10. Performed accounting services for clients, OMR 600, received 60% and the balance after two months. 15. Paid salaries of staff and rental of office space, OMR 1,800 and OMR 200, respectively. 18. Collected the one-half of the balance for the services performed on May 10. 24. Paid the 50% of the balance due to E-Max on the furniture bought on May 8. 28. Withdrew from Bank Muscat OMR 300 for personal use. 31. Billed Salem OMR 500 for accounting services renderedStep by Step Solution
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