# Transactions Details 1 On Jan 1 2023, Jema Ali withdrew $400,000 from personal savings and deposited it in the new business checking account for Ali's Best Boots Inc. 2 On Feb 20 2023, Ali's Best Boots Inc. issued a $5,000,000 check to purchase equipment. 3 On Feb 21 2023, the firm bought a truck for $75,000 on account. 4 On Feb 28 2023, Ali bought some decorations for the office for $7,700, paying $2,000 in cash and the rest was bought on credit from Office Plus. 5 Ali's Best Boots Inc. issued a check for $8,500 to Office Delux Inc. for purchase office supplies. 6 Ali's Best Boots Inc. issued a check in the amount of $2,500 to Office Plus. 7 Ali's Best Boots Inc. issued a check for $8,000 to pay rent for the months of December and January in advance. 8 During the year, the business earned $96,000 in revenue from clients who paid cash for boots bought from Ali's Best Boots Inc. 9 Ali's Best Boots sold some boots to customers on credit for $303,000 in March 2023. 10 In the year, Ali's Best Boots Inc. earned $33,000 from various other customers on account. 11 Charge account clients paid $76,000, reducing the amount owed to Ali's Best Boots Inc.. 12 In the year, Ali's Best Boots Inc. paid $108,000 in salaries. 13 Ali's Best Boots Inc. issued a check for $1200 to pay the utilities bill. 14 Jema Ali wrote a check to withdraw $25,000 cash for personal use. At the end of the year, on Dec 31 2023, Ali recorded the following depreciations: 15 $100,000 depreciation for equipment purchased earlier in the year. 16 $3,000 depreciation for the equipment. 17 On Dec 31, 2023, Ali realised some customers will not be able to pay the company. Ali estimated the amount customers will not be able to pay is $28,000. Questions: A Record the transactions in GL accounts. B Balance your GL accounts. C Prepare a trial balance using the accounts shown and balance in the trial balance. D Prepare an income statement. E Prepare an owner's equity statement. F Prepare a balance sheet.

Transartions Details 1 Oa fan 12023 , Jema Ali withdrew $400,000 from personal savings and deposited if in the new business checking account for ALis Best Boots Inc. 2 Oe Feb 20 2023, Nirs Best Boots Inc. isved a 55,000,000 eheck to purchase squipment. 3 Oe Feb 212023 , the firm bought a trukk for $75,000 ce account. 5. Alis Dest Beess Inc. issued a check fer 58,500 so Oftice belux Ine. for paechase effice mupplics. 6 Alis Hest Booes Ine. issucd a sheck in the amount of \$2.500 to Ollice Piss. 7 Alrs thest Hoots Inc, issued a sheck for 58,000 so pay rent for the month of December and laniary in advance. 8. Dueing the year, the business carsed 596000 it frenue from clients whs paid cash for booti bougl from Atre Hest fleots Ine. 9 Alrs llest Boots mald wome boots to cudomers on credil for $100.000 in March 2021. 10 In the year. Ali's Beat Bowi Inc, cauned 533,000 trom vatiees vhet customers on account 11 Charge accoumt ctients paid 576000 , reducing the amound wecd to Alrs Hest boots inc. 12 In the ycar, Ali's Best Boves lice paid 5100,000 in salaries. 1) Nirs liest licees ine. issucd a shesk fer 51200 ao pay the ueilities bilt. 14 lema Ali wowe a cherk 10 wibleme 525,000 cash for personal use At the cha af the year, en Dec if 202.3, Ali recerded the follewiag depreciatiens: 155100000 depreciation for equipment purchased carlier in the yvar. 16 5.,600 depreciatien for the cquipmeni. Questiens: A Resord the transactions in Gil. aounts 18 Balance your GL. accounts. C. Prepare a trial balance using the accounts shown and balase in the trial halance. D Prepare an iscome statement E Prepare an owner's equity statement. F Prepare a balance sheet