The Sun Company was a new business started on 1/1/2005.

The following transactions occurred during January 2005:

Jan 1: The owner started his business by depositing L.E.500000 in the account of the company.

Jan 4: The owner purchased office equipment for L.E.50000 cash.

Jan 6: He purchased a truck for L.E.80000 on account

Jan 10: He purchased land for L.E.50000 paid half cash.

Jan 15: He purchased furniture for L.E. 10000 cash.

Jan 20: He paid the on account of date Jan 6.

Jan 22: He paid L.E.1000 rent, for his own home, taken from the cash of the company.

Jan 31: He paid the on account of date Jan 10.

Required:

Prepare:1) Journal

2) Ledger

3) Trial balance

Exercise 3:

The following transactions occurred during March 2007 at ABC Company:

Mar.1: Mona started the business by investing L.E 300000 cash.

Mar.8: Purchased land for L.E.100000, paid half cash and the

remaining by notes

Mar.10: Purchased building for L.E 70000, paid half by notes.

Mar.15: Purchased equipment for L.E.90000, paid half cash.

Mar.18: Purchased inventory L.E.20000 cash.

Mar.20: Paid salaries L.E.2000, rent L.E.30000, and

utilities L.E.1000.

Mar.22: Sold half the land for L.E.56000, collected half cash.

Mar.24: Received advertising bill for L.E.1000.

Mar.28: Paid the on account of date Mar.8.

Mar.30: Paid half the on account of date Mar.10.

Mar.31: Collected the on account of date Mar.22.

Required:

Prepare:1) Journal

2) Ledger

3) Trial balance

Exercise 4:

Collected the following information from XYZ Company:

July 1: Sara started the business by investing L.E.400000

involving L.E.150000 land and the remaining cash.

July 2: Purchased building for L.E.60000, paid one third cash

and signed a note for the remaining amount

July 7: Purchased equipment for L.E.90000.

July 10: Purchased stocks for L.E.20000 cash.

July 15: Purchased car for L.E.50000 cash.

July 20: Sold half the stocks for L.E.9000.

July 25: Sent a bill L.E.2000 to customers for a service rendered.

July 27: Paid the on account of date July 7.

July 30: Received the on account of date July 20.

Required:

Prepare:1) Journal

2) Ledger

3) Trial balance

Exercise 5:

Collected the following information from Modern Company:

Aug.1: Ahmed started his business by investing L.E.250,000,

L.E.150,000 buildings and the remaining cash.

Aug.3: Purchased land for L.E.50,000 cash.

Aug.5: Purchased inventory for L.E.40,000, paid one quarter cash.

Aug.6: Purchased computer for L.E.10,000.

Aug.10: Made a deal to sell the inventory for L.E.38,000.

Aug.15: Sold half the land for L.E.30,000 cash.

Aug.20: Sold the inventory for L.E.38,000, received 18,000 cash.

Aug.22: Paid the on account of date Aug.5.

Aug.25: Withdrew L.E.2,000 cash for his personal use.

Aug.30: Received the on account of date Aug.20.

Aug.31: Paid salaries L.E.20,000 cash.

Required:

Prepare:1) Journal

2) Ledger

3) Trial balance