Answered step by step
Verified Expert Solution
Question
1 Approved Answer
using the general journal Megan started her own business, MD Printing Services, on August 1, 2019. The following transactions occurred during the month of August:
using the general journal
Megan started her own business, MD Printing Services, on August 1, 2019. The following transactions occurred during the month of August: Aug 1 Megan invested AED 95,000 cash and brought her own equipment for business use, worth AED 6,000 , Aug 3 Purchased a motor vehicle from Mitsubishi for AED 45,000 . AED 15,000 was paid in cash and the remaining amount will be paid after 30 days. Aug 4 Printed exam papers for Woolong University and collected cash AED 9,100. Aug 8 Megan withdrew AED 4,000 from the printing press for her personal use. Aug 12 Purchased supplies for AED 2,750 cash. Aug 17 Paid the amount owed to Mitsubishi for the transaction on Aug 3 . Aug 18 Paid AED 20,000 office rent for 1 year. Aug 20 Received AED 3,480 from ABC Company for printing orders for brochures and invitation cards for December. Aug 22 Provided printing services for Liverpool Company, AED 1,650. The client will pay after 7 days, Aug 23 Paid The Rising Sun for advertisement AED 800 . Aug 29 Liverpool Company paid the amount due for the transaction on Aug 22 Megan started her own business, MD Printing Services, on August 1, 2019. The following transactions occurred durnig the menth ol Auguse: Aug 1 Megan invested AED 95,000 cash and brought her own equipment for businass use, worth AED 6,000 . Aug 3 Purchased a motor vehicle from Mitsubishi for AED 45,000 . AED 15,000 was paid in cash and the temaning amount wil be paid afles 30 dap1. Aug 4 Printed exam papers for Woolong University and collected cash AED 9.100. Aug 8 Megan withdrow AED 4,000 from the printing press for her personal use. Aug 12 Purchased supplies for AED 2,750 cash. Aug 17 Paid the amount owed to Mitsubishi for the geansaction on Aug 3. Aug 18 Paid AED 20,000 office rent for 1 year. Aug 20 Received AED 3,480 from ABC Company for printing orders for brochures and invitation cards for Decembet: Aug 22. Provided printing services for Liverpool Company, AED 1,650. The client wil pay after 7 days: Aug 23 Paid The Rising Sun for advertisement AED 800. Aug 29 Liverpool Company paid the amount due for the transaction on Aug 22 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started