Al-Shams started on 1st January 2020. The following transactions of the business occurred on January 1. Al-Shams
Question:
Al-Shams started on 1st January 2020. The following transactions of the business occurred on January 1. Al-Shams started the business by investing $18,000 cash 2. Land and an office building were acquired at a cost of 5,500 and 19,800. The company paid 6,300 immediately and established a short-term loan for the remaining balance payable in two years 3. Purchased a mobile phone for personal use $550 4. Design equipment was purchased. The cash price of 2,860 was paid by cheque to the supplier 5. Office supplies totaling $275 were purchased on credit 6. A one-year fire insurance policy was purchased for $880 7. Fashion design commissions of $1,320 were collected from clients for June 8. Al purchased a new iPod for $88 as a birthday gift to his wife 9. An assistant wage of $660 was paid on June 10. Al-Shams withdraw $500 from the business for personal use 11. Utility bills totaling 165 dollars for January where is saved and will be paid in early February
Required: Prepare a worksheet for the month of June
Expert Answer:
Journal entry worksheet transaction General Journal Debit Credit 1 Cash 18000 Capital Al Shams 18000 ... View the full answer
