Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are required to upload the day book and trial balance in EduOasis Case The following ledger balances relate to Sunlight Establishment as of 14

image text in transcribed
image text in transcribed
You are required to upload the day book and trial balance in EduOasis Case The following ledger balances relate to Sunlight Establishment as of 14 January 2020 [You are free to add additional details, the address, and so on while creating the company). Cash 70,000 HSBC Bank 60,000 Salary payable 10,000 Retained Earnings 6,000 Capital 140,000 Motor Vehicle 25,000 Tools and Equipment 10,000 Bills Receivable 25,000 Rent payable 12,500 Bank Loan - Oman Arab Bank 21,500 Transactions during the year 1-1-2020Purchased goods on account from HMT Traders OMR 25,000 1-1-2020Sold goods on account to MM Trading 40,000 1-1-2020Returned goods by MM Trading worth OMR2,000 1-1-2020Purchase transportation paid OMR1,500 1-1-2020 Paid accrued salary by the issue of bank cheque. 1-1-20205old goods for cash OMR50,000 1-1-2020Received amount due from MM Trading and allowed 5% cash 1-1-2020 Sold goods for cash OMR50,000 1-1-2020Received amount due from MM Trading and allowed 5% cash discount 1-1-2020Withdrew OMR10,000 from the bank. 1-1-2020 Received commission from BB Traders OMR 5,000 1-1-2020Purchased office supplies for cash OMR6,000 Adjustments 31-12-2020 Provide Depreciation Motor Vehicle 20% Tools and Equipment 20% 31-12-2020Sales commission accrued OMR3,000 31-12-2020interest accrued during the period OMR1,000 31-12-2020An inspection of supplies showed that supplies worth OMR3,000 is used during the period. You are required to upload the day book and trial balance in EduOasis

Step by Step Solution

There are 3 Steps involved in it

Step: 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

Step: 3

blur-text-image

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

Financial Accounting For Decision Makers

Authors: DeFond, Mark

3rd Edition

1618534432, 9781618534439

More Books

Students also viewed these Accounting questions

Question

What should Belindas and Marcus next steps be?

Answered: 1 week ago