Homework Help is Here – Start Your Trial Now!
Business
Accounting
A. New b Servic Januar January 2021

A. New b Servic Januar January 2021

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%
CASE STUDY A. New business started on January 2021 by Mr. Sultan. The business named, H&A Engineering Service sells all kinds of items which are related to the contraction filed. During the month of January 2021, the following financial transactions occurred: January Transaction details 2021 Mr. Sultan invested OMR 305,000 to start the business 1 2 Paid rent - OMR 5,000 4 Purchased office furniture for the business from A&H Furniture worth OMR 13,000 on credit 6. Purchased electronic goods for cash worth OMR 12,000 7 Purchased office computer and software for business worth OMR 4,000 for cash Purchased electronic goods on credit from Aljazeera Traders worth OMR 14,000 12 Sold goods for cash - OMR 10,000 17 Paid A&H Furniture OMR 10,000 for office furniture purchased on 4th Jan Paid Aljazeera Traders OMR 4,000 for electronic goods purchased on 8h Jan 18 24 Mr. Sultan withdrew OMR 4000 for his personal used Paid Aljazeera Traders OMR 10,000 for electronic goods purchased on 8th Jan Paid Insurance expenses - OMR S00 30 31 Task 3: A. Prepare the end-of-month report to account for the incomes and expenses of H&A Engineering Service under Cash basis accounting.
Transcribed Image Text:CASE STUDY A. New business started on January 2021 by Mr. Sultan. The business named, H&A Engineering Service sells all kinds of items which are related to the contraction filed. During the month of January 2021, the following financial transactions occurred: January Transaction details 2021 Mr. Sultan invested OMR 305,000 to start the business 1 2 Paid rent - OMR 5,000 4 Purchased office furniture for the business from A&H Furniture worth OMR 13,000 on credit 6. Purchased electronic goods for cash worth OMR 12,000 7 Purchased office computer and software for business worth OMR 4,000 for cash Purchased electronic goods on credit from Aljazeera Traders worth OMR 14,000 12 Sold goods for cash - OMR 10,000 17 Paid A&H Furniture OMR 10,000 for office furniture purchased on 4th Jan Paid Aljazeera Traders OMR 4,000 for electronic goods purchased on 8h Jan 18 24 Mr. Sultan withdrew OMR 4000 for his personal used Paid Aljazeera Traders OMR 10,000 for electronic goods purchased on 8th Jan Paid Insurance expenses - OMR S00 30 31 Task 3: A. Prepare the end-of-month report to account for the incomes and expenses of H&A Engineering Service under Cash basis accounting.
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Presentation of Financial Statements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS