Required:

A-Record the above transactions in T-account.

B- Open and close all accounts.

C- Prepare the balance sheet at the end of January 2019.

Transcribed image text: Group A Company ABC balance sheet as at 01.01.2019 ASSETS EQUITY AND LIABILITIES 6 000 16 000 Tangible fixed assets Materials 2000 Equity Bank loan Accounts payable 4 000 Account receivable 8000 2000 6000 Cash Total 24000 Total 24 000 On January the company made the following transactions: 1. OA January 20, ABC issues 5 000 shares of common stock for cash. 2. On January 1, 2019, ABC purchases a car on account for 3 500, payment due within one month 3. On January 17, 2019, ABC received 3 500 for sale of land for cash, the historical cost of the land was 3 500. 4. On January 28, 2019, ABC Co. paid 5 000 salaries to employees in cash. The salaries paid concerned the work done in January Required: A-Record the above transactions in T-account. B- Open and close all accounts. C- Prepare the balance sheet at the end of January 2019