required 1 - Prepare the trial balance in a table (2) Prepare the income statement for the financial period ending on 12/31/2023 in a table (3) Prepare the statement of financial position (budget) as it is on 12/31/2023 in a table 1 - On 1/1/2022 - The company was established during 2022 and began its activity by depositing the capital in the amount of 110,000 riyals, half in cash and the other half in the bank. 2- On February 19 - some educational tools and office furniture worth 13,000 riyals were purchased in cash. 3- On 3/15 - the company provided repair work worth 7,500 riyals to Al-Ahmad Company on credit. 4- On April 20 - the company paid some of the insurance expenses due in the amount of 6,000 riyals in cash. 5- On May 17 - the company obtained the amount due to it from Al-Ahmad Company by check 6-On 6/28 - Purchase some equipment worth 9,000 riyals with a check 7-On 7/18- the company provided repairs worth 850 riyals to Jad Electronics on credit. 8- On August 12 - Industrial equipment rental expenses amounting to 3,000 riyals were paid in cash. 9- On 9/9 - some painting supplies worth 900 riyals were purchased from the Roach Foundation on credit. 10-On 10/15 - the office's electricity bills amounting to 400 riyals were paid by check. 11 - On 11/17 - some mechanical devices and equipment worth 12, 000 riyals were purchased in cash. 12- On 12/28 - some salary expenses amounting to 80,000 riyals were paid in cash.
required 1 - Prepare the trial balance in a table (2) Prepare the income statement for the financial period ending on 12/31/2023 in a table (3) Prepare the statement of financial position (budget) as it is on 12/31/2023 in a table 1 - On 1/1/2022 - The company was established during 2022 and began its activity by depositing the capital in the amount of 110,000 riyals, half in cash and the other half in the bank. 2- On February 19 - some educational tools and office furniture worth 13,000 riyals were purchased in cash. 3- On 3/15 - the company provided repair work worth 7,500 riyals to Al-Ahmad Company on credit. 4- On April 20 - the company paid some of the insurance expenses due in the amount of 6,000 riyals in cash. 5- On May 17 - the company obtained the amount due to it from Al-Ahmad Company by check 6-On 6/28 - Purchase some equipment worth 9,000 riyals with a check 7-On 7/18- the company provided repairs worth 850 riyals to Jad Electronics on credit. 8- On August 12 - Industrial equipment rental expenses amounting to 3,000 riyals were paid in cash. 9- On 9/9 - some painting supplies worth 900 riyals were purchased from the Roach Foundation on credit. 10-On 10/15 - the office's electricity bills amounting to 400 riyals were paid by check. 11 - On 11/17 - some mechanical devices and equipment worth 12, 000 riyals were purchased in cash. 12- On 12/28 - some salary expenses amounting to 80,000 riyals were paid in cash.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![required 1- Prepare the trial balance in a table (2) Prepare the income statement for the financial period ending on
12/31/2023 in a table (3) Prepare the statement of financial position (budget) as it is on 12/31/2023 in a table 1 - On
1/1/2022 - The company was established during 2022 and began its activity by depositing the capital in the amount of
110,000 riyals, half in cash and the other half in the bank. 2- On February 19 - some educational tools and office
furniture worth 13,000 riyals were purchased in cash. 3- On 3/15 - the company provided repair work worth 7,500
riyals to Al-Ahmad Company on credit. 4- On April 20- the company paid some of the insurance expenses due in the
amount of 6,000 riyals in cash. 5- On May 17 - the company obtained the amount due to it from Al-Ahmad Company
by check 6-On 6/28 - Purchase some equipment worth 9,000 riyals with a check 7-On 7/18- the company provided
repairs worth 850 riyals to Jad Electronics on credit. 8- On August 12 - Industrial equipment rental expenses amounting
to 3,000 riyals were paid in cash. 9- On 9/9 - some painting supplies worth 900 riyals were purchased from the Roach
Foundation on credit. 10-On 10/15 - the office's electricity bills amounting to 400 riyals were paid by check. 11 - On
11/17 - some mechanical devices and equipment worth 12, 000 riyals were purchased in cash. 12- On 12/28 - some
salary expenses amounting to 80,000 riyals were paid in cash.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbc5bb1cc-511f-4f3a-8f33-24b4915299e0%2F385d3641-20ef-4cb2-a225-734c55c4e63b%2Fsf0ptrc_processed.png&w=3840&q=75)
Transcribed Image Text:required 1- Prepare the trial balance in a table (2) Prepare the income statement for the financial period ending on
12/31/2023 in a table (3) Prepare the statement of financial position (budget) as it is on 12/31/2023 in a table 1 - On
1/1/2022 - The company was established during 2022 and began its activity by depositing the capital in the amount of
110,000 riyals, half in cash and the other half in the bank. 2- On February 19 - some educational tools and office
furniture worth 13,000 riyals were purchased in cash. 3- On 3/15 - the company provided repair work worth 7,500
riyals to Al-Ahmad Company on credit. 4- On April 20- the company paid some of the insurance expenses due in the
amount of 6,000 riyals in cash. 5- On May 17 - the company obtained the amount due to it from Al-Ahmad Company
by check 6-On 6/28 - Purchase some equipment worth 9,000 riyals with a check 7-On 7/18- the company provided
repairs worth 850 riyals to Jad Electronics on credit. 8- On August 12 - Industrial equipment rental expenses amounting
to 3,000 riyals were paid in cash. 9- On 9/9 - some painting supplies worth 900 riyals were purchased from the Roach
Foundation on credit. 10-On 10/15 - the office's electricity bills amounting to 400 riyals were paid by check. 11 - On
11/17 - some mechanical devices and equipment worth 12, 000 riyals were purchased in cash. 12- On 12/28 - some
salary expenses amounting to 80,000 riyals were paid in cash.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps with 6 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education