Mr. Mohammed Started his new business in 1 st of January 2016 and we extracted the following
Question:
Mr. Mohammed Started his new business in 1st of January 2016 and we extracted the following transactions from his regards.
1st January 2016, Cash bought in by Mohammed as capital with SR. 100000.
2ed January 2016, Supplies purchased on credit from Alryadh Co. worth SR. 7500.
3rd January 2016, Received a bill from AL Jazerah News for S.R.300 for newspaper advertising..
4th January 2016, Equipment purchased for cash SR. 1000.
5th January 2016, Cash withdrawn by owner from business for the personal use SR. 2000.
6th January 2016, Paid S.R.300 to AL Jazerah News for advertising that was previously billed in June 3.
7th January 2016, Performed services by S.R. 6,200 on account.
8th January 2016, Purchasing a car in credit from Automobile Co. SR. 35000.
9th January 2016, The car purchased earlier from Automobile Co. stolen from the barking.
Required:
Journalize transactions into the Journal
Post the transactions into ledger
Prepare trial balance
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill