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Q1. Journalize the following transaction and prepare Cash Ledger only.   1. Started business with OMR 45,000 2. Purchase goods from Mr. Ahmed OMR 9,000 3. Bought machine for OMR 7,000 4. Paid rent OMR 5000 5. Sold goods on credit to Mr. Yusuf for OMR 12,000 6. Received interest OMR 11000 7. Sold goods for OMR 20000 8. Purchase goods for OMR 4000 and paid 50% cash. 9. Withdrawn 10 % of capital from the business for personal use. 10. Deposited OMR 2,000 in the bank. 11. Sold car for OMR 6000 12. Withdrawn money from bank OMR 1,000

Q1. Journalize the following transaction and prepare Cash Ledger only.   1. Started business with OMR 45,000 2. Purchase goods from Mr. Ahmed OMR 9,000 3. Bought machine for OMR 7,000 4. Paid rent OMR 5000 5. Sold goods on credit to Mr. Yusuf for OMR 12,000 6. Received interest OMR 11000 7. Sold goods for OMR 20000 8. Purchase goods for OMR 4000 and paid 50% cash. 9. Withdrawn 10 % of capital from the business for personal use. 10. Deposited OMR 2,000 in the bank. 11. Sold car for OMR 6000 12. Withdrawn money from bank OMR 1,000

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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Q1. Journalize the following transaction and prepare Cash Ledger only.

 

1. Started business with OMR 45,000
2. Purchase goods from Mr. Ahmed OMR 9,000
3. Bought machine for OMR 7,000
4. Paid rent OMR 5000
5. Sold goods on credit to Mr. Yusuf for OMR 12,000
6. Received interest OMR 11000
7. Sold goods for OMR 20000
8. Purchase goods for OMR 4000 and paid 50% cash.
9. Withdrawn 10 % of capital from the business for personal use.
10. Deposited OMR 2,000 in the bank.
11. Sold car for OMR 6000
12. Withdrawn money from bank OMR 1,000
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