following business transactions of MMrs.Amal, a sol trader. April 2021 (1) Capital invested as cash RO 90,000 to start up the business 5) Paid RO 50000 in cash to Purchase Factory (7) Purchase of goods on credit for RO 30000 and 20500 on cash from Royal trading (8) Sale of RO 34000 on credit to Suhail trading and for cash RO 24000 9) Paid RO 28000 liability to the Royal trading (11) Paid advertisement of RO 12000 17) Paid salaries of RO 3500 16) Withdraw of RO 300 for personal use (28) Collection of accounts receivable RO 23000 from Suhail crading You required to: . Prepare Journal entries b. Post ledger accounts а. Trail balances

following business transactions of MMrs.Amal, a sol trader. April 2021 (1) Capital invested as cash RO 90,000 to start up the business 5) Paid RO 50000 in cash to Purchase Factory (7) Purchase of goods on credit for RO 30000 and 20500 on cash from Royal trading (8) Sale of RO 34000 on credit to Suhail trading and for cash RO 24000 9) Paid RO 28000 liability to the Royal trading (11) Paid advertisement of RO 12000 17) Paid salaries of RO 3500 16) Withdraw of RO 300 for personal use (28) Collection of accounts receivable RO 23000 from Suhail crading You required to: . Prepare Journal entries b. Post ledger accounts а. Trail balances

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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Question

The following business transactions of Mrs.Amal, a sole
trader.
April 2021
(1) Capital invested as cash RO 90,000 to start up the business
(5) Paid RO 50000 in cash to Purchase Factory
(7) Purchase of goods on credit for RO 30000 and 20500 on
cash from Royal trading
(8) Sale of RO 34000 on credit to Suhail trading and for cash
RO 24000
(9) Paid RO 28000 liability to the Royal trading
(11) Paid advertisement of RO 12000
(17) Paid salaries of RO 3500
(16) Withdraw of RO 300 for personal use
(28) Collection of accounts receivable RO 23000 from Suhail
trading
You required to:
Prepare Journal entries
b. Post ledger accounts
c. Trail balances
а.

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