Problem 1. Mr. Amer started his Car Repair Business in Muscat in June 2020. During the month of June, che following transactions occurred: June 1 Amer opened the business by investing OMR 300,000. June 2 Purchased Computers for OMR 3,500 and immediately paid OMR 2,000 cash and promised the supplier to pay the remaining amount in the future. June 5 Purchased supplies on account for OMR 10,500. June 6 Provided repair service to a customer, OMR 7,600. The customer paid OMR 3,000 and the remaining will be paid in the near future. June 10 Paid the remaining amount of OMR 1500 for the Computers bought June 2nd. June 15 Provided renair service to a customer on account OMR 40 000

Problem 1. Mr. Amer started his Car Repair Business in Muscat in June 2020. During the month of June, che following transactions occurred: June 1 Amer opened the business by investing OMR 300,000. June 2 Purchased Computers for OMR 3,500 and immediately paid OMR 2,000 cash and promised the supplier to pay the remaining amount in the future. June 5 Purchased supplies on account for OMR 10,500. June 6 Provided repair service to a customer, OMR 7,600. The customer paid OMR 3,000 and the remaining will be paid in the near future. June 10 Paid the remaining amount of OMR 1500 for the Computers bought June 2nd. June 15 Provided renair service to a customer on account OMR 40 000

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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2.
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