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 2 Paid rent-OMR 5,000 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 12 Sold goods for cash - OMR 10,000 17 Paid A&H Furniture OMR 10,000 for office furniture purchased on 4th Jan 18 Paid Aljazeera Traders OMR 4,000 for electronic goods purchased on 8th Jan 24 Mr. Sultan withdrew OMR 4000 for his personal used 30 Paid Aljazeera Traders OMR 10,000 for electronic goods purchased on 8th Jan 31 Paid Insurance expenses-OMR 500 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.

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 2 Paid rent-OMR 5,000 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 12 Sold goods for cash - OMR 10,000 17 Paid A&H Furniture OMR 10,000 for office furniture purchased on 4th Jan 18 Paid Aljazeera Traders OMR 4,000 for electronic goods purchased on 8th Jan 24 Mr. Sultan withdrew OMR 4000 for his personal used 30 Paid Aljazeera Traders OMR 10,000 for electronic goods purchased on 8th Jan 31 Paid Insurance expenses-OMR 500 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.

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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