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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 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 Purchased office computer and software for business worth OMR 4,000 for cash Purchased electronit goods on credit from Aljazeera Traders worth OMR 14,000 7 8 12 Sold goods for cash - OMR 10,000 17 Paid A&H Furniture OMR 10,000 for office furniture purchased on 4* Jan Paid Aljazeera Traders OMR 4,000 for electronic goods purchased on 8* Jan 18 24 Mr. Sultan withdrew OMR 4000 for his personal used 30 Paid Aljazeera Traders OMR 10,000 for electronic goods purchased on 8* Jan 31 Paid Insurance expenses - OMR 500 Requirements: Now review the case study above, respond to the following requirements on your own. Then, Record each of the above transactions in general journal. Date, Particulars, Explanations, Reference and amounts in OMR should be provided. Use the following account titles to journalize the transactions H&A Engineering Service: a. Cash b. Capital Rent d. Furniture C. Accounts f. Purchases . Computer & h. Sales e. Payables Software i. Accounts j. Salaries k. Drawings 1. Insurance Receivables expenses

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 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 Purchased office computer and software for business worth OMR 4,000 for cash Purchased electronit goods on credit from Aljazeera Traders worth OMR 14,000 7 8 12 Sold goods for cash - OMR 10,000 17 Paid A&H Furniture OMR 10,000 for office furniture purchased on 4* Jan Paid Aljazeera Traders OMR 4,000 for electronic goods purchased on 8* Jan 18 24 Mr. Sultan withdrew OMR 4000 for his personal used 30 Paid Aljazeera Traders OMR 10,000 for electronic goods purchased on 8* Jan 31 Paid Insurance expenses - OMR 500 Requirements: Now review the case study above, respond to the following requirements on your own. Then, Record each of the above transactions in general journal. Date, Particulars, Explanations, Reference and amounts in OMR should be provided. Use the following account titles to journalize the transactions H&A Engineering Service: a. Cash b. Capital Rent d. Furniture C. Accounts f. Purchases . Computer & h. Sales e. Payables Software i. Accounts j. Salaries k. Drawings 1. Insurance Receivables expenses

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 Paid rent -OMR 5,000 1 2 4 Purchased office furniture for the business from A&H Furniture worth OMR 13,000 on credit Purchased electronic goods for cash worth OMR 12,000 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 Sold goods for cash - OMR 10,000 Paid A&H Furniture OMR 10,000 for office furniture purchased on 4th Jan 8. 12 17 Paid Aljazeera Traders OMR 4,000 for electronic goods purchased on 8h Jan 18 24 Mr. Sultan withdrew OMR 4000 for his personal used 30 Paid Aljazeera Traders OMR 10,000 for electronic goods purchased on 8th Jan Paid Insurance expenses - OMR 500 31 Requirements: Now review the case study above, respond to the following requirements on your own. Then, Record each of the above transactions in general journal. Date, Particulars, Explanations, Reference and amounts in OMR should be provided. Use the following account titles to journalize the transactions H&A Engineering Service: a. Cash b. Capital C. Rent d. Furniture e. Accounts Payables i. f. Purchases g. Computer & h. Sales Software Accounts j. Salaries k. Drawings 1. Insurance Receivables expenses
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 Paid rent -OMR 5,000 1 2 4 Purchased office furniture for the business from A&H Furniture worth OMR 13,000 on credit Purchased electronic goods for cash worth OMR 12,000 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 Sold goods for cash - OMR 10,000 Paid A&H Furniture OMR 10,000 for office furniture purchased on 4th Jan 8. 12 17 Paid Aljazeera Traders OMR 4,000 for electronic goods purchased on 8h Jan 18 24 Mr. Sultan withdrew OMR 4000 for his personal used 30 Paid Aljazeera Traders OMR 10,000 for electronic goods purchased on 8th Jan Paid Insurance expenses - OMR 500 31 Requirements: Now review the case study above, respond to the following requirements on your own. Then, Record each of the above transactions in general journal. Date, Particulars, Explanations, Reference and amounts in OMR should be provided. Use the following account titles to journalize the transactions H&A Engineering Service: a. Cash b. Capital C. Rent d. Furniture e. Accounts Payables i. f. Purchases g. Computer & h. Sales Software Accounts j. Salaries k. Drawings 1. Insurance Receivables expenses
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