Ramallah computer repair service company was established in January of2018. For its second year of operations and at 31/12/2019 the adjusted balanceswere as follows:Account$Advertising ExpenseCash6,0008,00010,000380,0002,000146,0004,600460,000RentService trucksТаx ExpenseAccounts receivableInsurance ExpenseRevenue from repairsWages PayableAccounts Payable| J. Ali Capital26,00037,000750,00077,00014,0007,00038,00020,00099,0005,40015,00012,00067,000118,000,340,000Arab BankAccumulated depreciation - EquipmentUtilities expenseAccumulated depreciation-service trucksJ. Ali drawingParts and supplies on handMiscellaneous ExpensesPrepaid insuranceDepreciation expenseParts and supplies expenseSalariesEquipmentThe accounts are listed in random orderRequired:A prepare a coded chart of accounts for the companyB prepare a trial balance in good formC prepare an Income statement for the company

Part A.:- Charts of Accounts are:- Advertising Expense Cash Rent Service Trucks Tax…

Ramallah computer repair service company was established in January of 2018. For its second year of operations and at 31/12/2019 the adjusted balances were as follows: $ 6,000 8,000 10,000 380,000 2,000 Account Advertising Expense |Cash Rent Service trucks Таx Expense Accounts receivable 146,000 4,600 460,000 Insurance Expense Revenue from repairs Wages Payable Accounts Payable J. Ali Capital Arab Bank Accumulated depreciation - Equipment Utilities expense Accumulated depreciation-service trucks J. Ali drawing Parts and supplies on hand Miscellaneous Expenses Prepaid insurance Depreciation expense Parts and supplies expense Salaries Equipment 26,000 37,000 750,000 77,000 14,000 7,000 38,000 20,000 99,000 5,400 15,000 12,000 67,000 118,000, 340,000 The accounts are listed in random order Required: A prepare a coded chart of accounts for the company B prepare a trial balance in good form C prepare an Income statement for the company

Ramallah computer repair service company was established in January of 2018. For its second year of operations and at 31/12/2019 the adjusted balances were as follows: $ 6,000 8,000 10,000 380,000 2,000 Account Advertising Expense |Cash Rent Service trucks Таx Expense Accounts receivable 146,000 4,600 460,000 Insurance Expense Revenue from repairs Wages Payable Accounts Payable J. Ali Capital Arab Bank Accumulated depreciation - Equipment Utilities expense Accumulated depreciation-service trucks J. Ali drawing Parts and supplies on hand Miscellaneous Expenses Prepaid insurance Depreciation expense Parts and supplies expense Salaries Equipment 26,000 37,000 750,000 77,000 14,000 7,000 38,000 20,000 99,000 5,400 15,000 12,000 67,000 118,000, 340,000 The accounts are listed in random order Required: A prepare a coded chart of accounts for the company B prepare a trial balance in good form C prepare an Income statement for the company

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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