Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following entries are in the books of Ali Co. for the month of May,2021: 10th May Establish the business with a capital of OMR

The following entries are in the books of Ali Co. for the month of May,2021: 10th May

Establish the business with a capital of OMR 400,000. 12th May

Purchase Goods costed OMR 20,000. 13th May

Sold goods for OMR 6,000 on account to Mr. Adnan. 17th May

Purchase car costed OMR 10,000. 18th May : Withdraw an amount of OMR 1,000 for personal use. 19th May :

Received OMR 1,000 from the client for goods sold on 13th May. 20th May : Bought goods for OMR 3,000 on account from Mr. Ahmed. 21th May :

Paid OMR 2,000 for staff expenses. 22th May :

Purchased building costed OMR 20,000 23th May :

Sold goods for OMR 3,000 on account to Ali.

Prepare journal, ledger along with trial balance.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Based on the given transactions the journal entries for the month of May 2021 would be as follows 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_2

Step: 3

blur-text-image_3

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

Fundamentals of Analytical Chemistry

Authors: Douglas A. Skoog, Donald M. West, F. James Holler, Stanley R. Crouch

9th edition

495558281, 978-0495558286

More Books

Students also viewed these Accounting questions