Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
review and find the mistake of the following transactions which is recorded in general journal and rewrite them. B. Mr. Abdullah formed Al-Noor Enterprises on
review and find the mistake of the following transactions which is recorded in general journal and rewrite them. B. Mr. Abdullah formed Al-Noor Enterprises on February 2021. During the month, the following financial transactions occurred: Review and find the mistake of the following transactions which is recorded in general journal and rewrite them. (10 mark) 2021, February 10 Paid the month's rent OR 700 16 Withdrew OR 10,000 for personal use. 23 Collected OR 9,000 from Bahwan Company. 28 Sold goods for cash - OMR 15,000 Al-Noor Enterprises for January Date Particulars Ref. Debit Credit 2020 Feb. 11 Rent Expense Cash 700 700 16 10,000 Abdullah, Withdrawal Expense 10,000 23 Cash 10,000 Accounts Payable 10,000 30 15,000 Sales Cash 15,000 Task 3: A. Prepare the end-of-month report to account for the incomes and expenses of H&A Engineering Service under Cash basis accounting ( 15 marks) B. Discuss and explain in details the steps of preparing Accrual basis accounting with one example and what are the advantage and disadvantage of using accrual accounting based? support the discussion with relevant literature. ( 20 marks)
review and find the mistake of the following transactions which is recorded in general journal and rewrite them.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started