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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
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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Problem 1. Mr. Amer started his Car Repair Business in Muscat in June 2020. During the month of June, the 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 repair service to a customer on account, OMR 40,000. June 16 Purchased Computer Equipment by cash, OMR 15,000 June 23 Received cash from the customer who was billed on June 15th, OMR 40,000. June 24 Received cash from the customer who was billed on June 6th, OMR 4,600. June 30 Paid the Internet bill OMR 450 June 30 Amer paid monthly rent, OMR 550. lune 30 Paid the Electricity bill, OMR 360 Prepare the unadjusted trial balance for Mr. Asif as of June 30th 2020. Required: 1. Prepare journal 2. Prepare ledger 3. Prepare unadjusted trial balance
Transcribed Image Text:Problem 1. Mr. Amer started his Car Repair Business in Muscat in June 2020. During the month of June, the 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 repair service to a customer on account, OMR 40,000. June 16 Purchased Computer Equipment by cash, OMR 15,000 June 23 Received cash from the customer who was billed on June 15th, OMR 40,000. June 24 Received cash from the customer who was billed on June 6th, OMR 4,600. June 30 Paid the Internet bill OMR 450 June 30 Amer paid monthly rent, OMR 550. lune 30 Paid the Electricity bill, OMR 360 Prepare the unadjusted trial balance for Mr. Asif as of June 30th 2020. Required: 1. Prepare journal 2. Prepare ledger 3. Prepare unadjusted trial balance
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