Problem 1. Mr. Asif started his Computer Repair Business inSalalah in July 2020. During the month of July, the followingtransactions occurred:|Asif opened the business by investing OMR 192,000.July 1July 2 Purchased Computers for OMR 20,000 and immediately paid OMR 4,000 andpromised the supplier to pay the remaining amount in the future.July 5 Purchased supplies on account for OMR 6,500.July 6 Provided repair service to a customer, OMR 3,600. The customer paid OMR 2,000|Jand the remaining will be paid in the near future.July 10 Paid the remaining amount for the Computers bought July 2nd.July 15 Provided repair service to a customer on account, OMR 16,000.July 16 Purchased Printer by cash, OMR 7,000July 23 Received cash from the client who was billed on July 15", OMR 16,000.July 25 Received the electricity bill, OMR 300 which will be paid at the end of July.July 26 Asif received Internet bill, OMR 120 which will be paid at the end of the month.July 31 Paid the Internet bill received on 26h July.July 31 Asif paid monthly rent, OMR 400.July 31 Paid the Electricity bill, OMR 300Prepare the unadjusted trial balance for Mr. Asif as of July31" 2020.Required:1. Prepare journal2. Prepare ledger3. Prepare unadjusted trial balance

Name: Problem 1. Mr. Asif started his Computer Repair Business inSalalah in
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Description: Problem 1. Mr. Asif started his Computer Repair Business inSalalah in July 2020. During the month of July, the followingtransactions occurred:|Asif opened the business by investing OMR 192,000.July 1July 2 Purchased Computers for OMR 20,000 and imme

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July 1 Asif opened the business by investing OMR 192,000. July 2 Purchased Computers for OMR 20,000 and immediately paid OMR 4,000 and promised the supplier to pay the remaining amount in the future. July 5 Purchased supplies on account for OMR 6,500. July 6 Provided repair service to a customer, OMR 3,600. The customer paid OMR 2,000 |and the remaining will be paid in the near future. July 10 Paid the remaining amount for the Computers bought July 2md. July 15 Provided repair service to a customer on account, OMR 16,000. July 16 Purchased Printer by cash, OMR 7,000 July 23 Received cash from the client who was billed on July 15th, OMR 16,000. July 25 Received the electricity bill, OMR 300 which will be paid at the end of July. July 26 Asif received Internet bill, OMR 120 which will be paid at the end of the month. July 31 Paid the Internet bill received on 26th July. July 31 Asif paid monthly rent, OMR 400. July 31 Paid the Electricity bill, OMR 300 Prepare the unadjusted trial balance for Mr. Asif as of July 31" 2020. Required: 1. Prepare journal

July 1 Asif opened the business by investing OMR 192,000. July 2 Purchased Computers for OMR 20,000 and immediately paid OMR 4,000 and promised the supplier to pay the remaining amount in the future. July 5 Purchased supplies on account for OMR 6,500. July 6 Provided repair service to a customer, OMR 3,600. The customer paid OMR 2,000 |and the remaining will be paid in the near future. July 10 Paid the remaining amount for the Computers bought July 2md. July 15 Provided repair service to a customer on account, OMR 16,000. July 16 Purchased Printer by cash, OMR 7,000 July 23 Received cash from the client who was billed on July 15th, OMR 16,000. July 25 Received the electricity bill, OMR 300 which will be paid at the end of July. July 26 Asif received Internet bill, OMR 120 which will be paid at the end of the month. July 31 Paid the Internet bill received on 26th July. July 31 Asif paid monthly rent, OMR 400. July 31 Paid the Electricity bill, OMR 300 Prepare the unadjusted trial balance for Mr. Asif as of July 31" 2020. Required: 1. Prepare journal

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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