Question
The following transactions are taken from the books of Afsal s Digi Tech Services for the month of November 2020. Nov. 1 Mr. Afsal started
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The following transactions are taken from the books of Afsal s Digi Tech Services for the month of November 2020.
Nov. 1 Mr. Afsal started Digi Tech Services business by investing OMR 50,000 in Cash.
2 Purchased computers on credit a2,830.
4 The business purchased furniture from KBC furnitures for OMR 1810. Paid
OMR 1020 immediately and the balance will be paid in the future.
6 The business paid for insurance covering full year amount OMR 420
14 Business billed a customer for services provided and collected cash OMR 860.
23 Business earned OMR 2,400 in revenue from customers for service provided.
Received OMR 1,200 the customer agreed to pay remaining amount later.
25 Balance paid to KBC furnitures for the furniture purchased on 4th November 2020.
27 Paid the Utilities expenses OMR 160.
30 The business paid Salary to office staff OMR 900 for the month of November 2020.
30 Received the balance cash from the customer who previously billed for the service provided on 23rd November 2020.
30 Mr. Afsal withdrawn cash OMR 700 for his personal use.
Required: Prepare Journal Entries, Ledger Accounts and Unadjusted Trial Balance.
Solution: Journal Entries (6 Marks) Date Account Tile L. F Debit Amount (OMR) Credit Amount (OMR) Ledger Accounts (6.5 Marks) Dr. Date Cr. (RO) Account Tile J.F (RO) Date Account Tile JF Dr. Date Cr. (RO) Account Tile JF (RO) Date Account Tile JF Dr. Date Account Tile JF (RO) Date Account Tile JF Cr. (RO) Dr. Date Cr. (RO) Account Tile JF (RO) Date Account Tile JF CE: Dr. Date Account Tile JF (RO) Date Account Tile (RO) Cr: Dr. Date Account Tile J.F (RO) Date Account Tile J.F (RO) Cr: Dr. Date Account Tile J.F (RO) Date Account Tile JF (RO) Unadjusted Trial Balance (2.5 Marks) Debit Credit Balance(OMIR Balance(OMR ) Name of Account Total
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