3. 3 4. 4 5. 6 6. 7 8 5. Mr. Snow white opened a Laundry services in January 2019. He plans to prepare the monthly financial statement dated 31 January 2020. During this month period he completed the following transaction S.No January Transactions 1. Started business by issuing capital stock for cash $300000 2. 3 Borrowed loan from Bank Muscat on a note payable $80000 Recruited a staff agreed a salary of $300. Purchased washing machine for $50000 paid 45% cash and the remaining amount will be paid later. Performed laundry services to a customer who promised to pay later$32000 Paid rent for the building for the whole year $ 6000 7. Mr. Snow white ordered for three steam Iron Box for $300 which will be delivered in May Supplies were purchased on account for usage in this month $6000 10 Cleaning of carpet services were performed to a customer who paid immediately $44000 Received cash $ 4000 from a client for the Laundry service to be provided for the month of February MR. Snow white ordered goods from K Mart for $ 500 but they were not delivered. Owner withdrew cash to pay his wife's medical bills $3000 A bill for $800 was received for utilities for this month 14. Collections were made for the services performed on 6 $ 16000 15. 31 Paid salaries to the employees at the end of the month $ 300 31 Paid dividend to his shareholders $4000 17. The owner paid donations from his personal funds $200 to Oman charitable organization 8. 9 9 10. 14 11. 16 12 13 25 26 28 16. 31 7. Post the entries and calculate the balances. (0.5 Mark*13 = 6.5 marks)