On 1st of August 2010 the owners started their business with R.O 30 000 deposited into the company’s bank account. On 2nd August the company received R.O 20 000 a loan from the Dhofar bank and deposited into its bank account. On 3rd of August the company bought Equipment cost R.O 7 500 on credit. On 4th of August the company bought Building costs R.O 10 000 by cheque. On 5th of August the company sold Equipment for R.O 2 500 by cheque. On 6th of August the company sold Building for R.O 3 750 on credit. On 7th of August the company paid Salaries R.O 1 250 by cheque. On 8th of August the company received Rent revenue R.O 2 500 by cheque. On 9th of August the company paid Phone expenses R.O 3 000 by cheque. On 10th of August the company received Interest revenue R.O 3 750 by cheque. On 11th of August the company bought goods for R.O 12 500 on credit. On 12 of August the company sold goods for R.O 25 000 by cheque. Required, journalize these transactions in General Journal. Post the entries to Ledger account Prepare the Trial Balance.
Q1) On 1st of August 2010 the owners started their business with R.O 30 000 deposited into the company’s bank account. On 2nd August the company received R.O 20 000 a loan from the Dhofar bank and deposited into its bank account.
On 3rd of August the company bought Equipment cost R.O 7 500 on credit.
On 4th of August the company bought Building costs R.O 10 000 by cheque.
On 5th of August the company sold Equipment for R.O 2 500 by cheque.
On 6th of August the company sold Building for R.O 3 750 on credit.
On 7th of August the company paid Salaries R.O 1 250 by cheque.
On 8th of August the company received Rent revenue R.O 2 500 by cheque.
On 9th of August the company paid Phone expenses R.O 3 000 by cheque.
On 10th of August the company received Interest revenue R.O 3 750 by cheque.
On 11th of August the company bought goods for R.O 12 500 on credit.
On 12 of August the company sold goods for R.O 25 000 by cheque.
Required, journalize these transactions in General Journal.
Post the entries to Ledger account
Prepare the
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