Question one : Case study Selected transactions for Ahmed, a property manager, in his first month of business, are as follows : Jan. 2 Invested $60,000 cash in business. 3 Purchased used car for $20,800 cash for use in business. 9 Purchased supplies on account for $2000. 11 Billed customers $8,400 for services performed. 16 Paid $1800cash for advertising. 20 Received $5,200 cash from customers billed on January 11. 21 Recorded revenue earned and received for the month, $16,000. 23 Paid creditor $1200 cash on balance owed. 24 Paid the worker's monthly wage $8000 28 Withdrew $8,000 cash for personal use of owner. Reguired : 1- Journalize the business transactions in general journal form. 2- Post the following transactions to T-accounts. 3- Prepare a trial balance with the accounts arranged in financial statement order 4- prepare the financial statement

Question one : Case study Selected transactions for Ahmed, a property manager, in his first month of business, are as follows : Jan. 2 Invested $60,000 cash in business. 3 Purchased used car for $20,800 cash for use in business. 9 Purchased supplies on account for $2000. 11 Billed customers $8,400 for services performed. 16 Paid $1800cash for advertising. 20 Received $5,200 cash from customers billed on January 11. 21 Recorded revenue earned and received for the month, $16,000. 23 Paid creditor $1200 cash on balance owed. 24 Paid the worker's monthly wage $8000 28 Withdrew $8,000 cash for personal use of owner. Reguired : 1- Journalize the business transactions in general journal form. 2- Post the following transactions to T-accounts. 3- Prepare a trial balance with the accounts arranged in financial statement order 4- prepare the financial statement

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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answer in text form please (without image), Note: .Every entry should have narration please
Prepare all the journal entries.
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