QUESTION I: 1. Presented below is the adjusted trial balance of Al Marai Company as on December 31st. 2020.
Account title Amount(Debit) Amount(Credit) Cash 11,000 Accounts Receivable 21,500 Inventory as on 1" January
2020 5.000 Prepaid Insurance 2.500 Printing Equipment 60,000 Accumulated Depreciation 35,000 Acco...

Questions: The transactions for the year 2016 for Nakheel Architects have already been recorded. This problem shows how to prepare adjusting entries for Nakheels Architects for December 2016. 1. Dec. 31- A machine was purchased on January 1,2015 for SAR 2,600. The useful life of the computer is 5 years. 2. Dec. 31- On October 1,2016, Anderson Architects had paid SAR 5000 as rent for a four month period. This had been recorded as prepaid rent. 3. Dec. 31- The amount of supplies available at the end of December was SAR 500. The amount of supplies at the beginning of the period was SAR 750. SAR 350 of supplies 1 Instructor- Dr. Sajid Ali were purchased during the year. 4. The company signed a 12%, six-month note for $6,000 on November 1,2016 . No interest has been recorded for November and December. 5. Dec. 31 Services were provided to a customer for SAR550. The cash was collected in advance on November 28, 2016