Capital A/C 50000 Brought additional capital into business Deposited into bank Purchased goods from Voltamp Manufacturing Co. LLC and got 10% trade discount Jan 2 30000 Jan 31 10000 Feb 1 15000 Sold goods to Al-Nahdah Construction And Energy Services and offered 5% trade discount Goods returned to Voltamp Manufacturing Co. LLC Cash Sales Feb 2 2000 Mar 1 25000 Mar 2 4000 Paid to Voltamp Manufacturing Co. LLC Goods returned by Al-Nahdah Construction And Energy Paid Carriage inwards Received Commission by cheque Paid Jabal Onman LLC in full settlement Received from Al-Nahdah Construction And Energy Services by cheque Sold Furniture worth of RO 2500 for RO 2800 Goods taken by proprietor for personal use Paid Wages Mar 31 3000 Apr 1 Apr 2 May 1 May 2 May 31 300 2600 9500 6000 June 1 June 2 1000 3400 July 1 July 2 July 31 Aug 1 Aug 2 4000 Withdrew from bank Goods distributed as free samples Paid Carriage Outwards Purchased goods from Galfar Engineering & Contracting LLC and got 6% cash discount 4500 250 6000 Paid to Voltamp Manufacturing Co. LLC in full settlement Sold Machinery worth of RO 4000 for RO 3600 Received from Al-Nahdah Construction And Energy Services in full settlement 2600 Sep 1 Sep 2 Oct 1 5000 Oct 2 Oct 31 Purchased Equipment from Middle West Oilfield Services Cash taken by proprietor for personal use Paid salaries through bank transfer 30000 2000 Nov 1 7500

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Question
100%
we need name of the account which debit and credit
Capital A/C
50000
Brought additional capital into business
Deposited into bank
Purchased goods from Voltamp Manufacturing Co. LLC and got
10% trade discount
Jan 2
30000
Jan 31
10000
Feb 1
15000
Sold goods to Al-Nahdah Construction And Energy Services
and offered 5% trade discount
Goods returned to Voltamp Manufacturing Co. LLC
Cash Sales
Feb 2
2000
Mar 1
25000
Mar 2
4000
Paid to Voltamp Manufacturing Co. LLC
Goods returned by Al-Nahdah Construction And Energy
Paid Carriage inwards
Received Commission
Mar 31
3000
Apr 1
Apr 2
May 1
May 2
May 31
300
cheque
2600
9500
Paid Jabal Oman LLC in full settlement
Received from Al-Nahdah Construction And Energy Services
by cheque
6000
June 1
Sold Furniture worth of RO 2500 for RO 2800
Goods taken by proprietor for personal use
Paid Wages
Withdrew from bank
Goods distributed as free samples
Paid Carriage Outwards
Purchased goods from Galfar Engineering & Contracting LLC
and got 6% cash discount
June 2
1000
3400
July 1
July 2
July 31
Aug 1
Aug 2
4000
4500
250
6000
Paid to Voltamp Manufacturing Co. LLC in full settlement
Sold Machinery worth of RO 4000 for RO 3600
Received from Al-Nahdah Construction And Energy Services in
full settlement
2600
Sep 1
Sep 2
Oct 1
5000
Oct 2
Oct 31
Purchased Equipment from Middle West Oilfield Services
Cash taken by proprietor for personal use
Paid salaries through bank transfer
30000
2000
Nov 1
7500
Transcribed Image Text:Capital A/C 50000 Brought additional capital into business Deposited into bank Purchased goods from Voltamp Manufacturing Co. LLC and got 10% trade discount Jan 2 30000 Jan 31 10000 Feb 1 15000 Sold goods to Al-Nahdah Construction And Energy Services and offered 5% trade discount Goods returned to Voltamp Manufacturing Co. LLC Cash Sales Feb 2 2000 Mar 1 25000 Mar 2 4000 Paid to Voltamp Manufacturing Co. LLC Goods returned by Al-Nahdah Construction And Energy Paid Carriage inwards Received Commission Mar 31 3000 Apr 1 Apr 2 May 1 May 2 May 31 300 cheque 2600 9500 Paid Jabal Oman LLC in full settlement Received from Al-Nahdah Construction And Energy Services by cheque 6000 June 1 Sold Furniture worth of RO 2500 for RO 2800 Goods taken by proprietor for personal use Paid Wages Withdrew from bank Goods distributed as free samples Paid Carriage Outwards Purchased goods from Galfar Engineering & Contracting LLC and got 6% cash discount June 2 1000 3400 July 1 July 2 July 31 Aug 1 Aug 2 4000 4500 250 6000 Paid to Voltamp Manufacturing Co. LLC in full settlement Sold Machinery worth of RO 4000 for RO 3600 Received from Al-Nahdah Construction And Energy Services in full settlement 2600 Sep 1 Sep 2 Oct 1 5000 Oct 2 Oct 31 Purchased Equipment from Middle West Oilfield Services Cash taken by proprietor for personal use Paid salaries through bank transfer 30000 2000 Nov 1 7500
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Completing the Accounting Cycle
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.
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