Question
Suppose, Nestle incurred the following more transaction from July 1, 2018 to December 31, 2018. 1. Invested more $ 100,000 and other transactions for the
Suppose, Nestle incurred the following more transaction from July 1, 2018 to December 31, 2018.
1. Invested more $ 100,000 and other transactions for the month are:
2. Purchase Furniture for Cash 7,000.
3. Purchase Goods for Cash 2,000 and for Credit. 1,000 from Khalid Retail store.
4. Acquired a building for $5,000 on cash.
5. Sold Goods (revenue) to Khan Brothers 12,000 and Cash Sales 5,000.
6. Owner withdrew of worth 2,000 for personal use.
7. Purchased land for $2,000 on credit.
8. Paid utility bills $ 250
9. Paid Salaries Expense $2,000
10. Bought furniture for $1,500 on credit.
Required: Considering the above given Income statement and transactions from July 1, 2018 to December 31, 2018 of Nestle company, and answer the following Question 1 to 3. Question No. 1 Marks 15 Make the journal entries, ledger and trial balance the transaction July 1 to December 31, 2002. Question No. 2 Marks 15 Prepare the closing entries of revenue and expense from July 1st to December 31.2002. Question No. 3 Make the balance sheet for year January, 2002 to December 2002 (include all changings).
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