1. The following transactions are taken from the books of Mr. Naushad for the month of August 2021. Aug Mr. Naushad started the business by investing OMR 30,000 in Cash. 2 Purchased computers by cash OMR 6,000. 4 The company purchased a car on oredit to XYZ Automobile for OMR 15,000. Paid OMR 10,000 immediately and the balance wil be paid in the future. The business paid for the insurance covering full year amount OMR 1,300 14 Business provided services to customer by collecting cash OMR 4,500. 23 Mr. Naushad earned OMR 2,700 in revenue from the customer for service provided. Received OMR 2,000 the customer agreed to pay remaining amount later. 25 Mr. Naushad paid OMR 1,500 to XYZ Automobiles. 27 Mr. Naushad paid the salary for his staff OMR 2,300. 30 The business paid rent OMR 1,700 for the month of August 2021. 30 Received the balance cash OMR 700 from the customer who previously billed for the service provided and paid partially on 23 August 2021. 31 Mr. Naushad withdrawn cash OMR 350 for his per sonal use. Required Prepare Journal Entries, Ledger Accounts and Unadjusted Trial Balance.
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Transcribed image text: following transactions are taken from the books of Mr. Naushad for the month of August 2020. Aug 1 Mr. Naushad started the business by investing OMR 50,000 in Cash. 2 Purchased computers by cash OMR 6,000. 4 The company purchased a car on credit to XYZ Automobile for OMR 25,000. Paid OMR 15,000 immediately and the balance will be paid in the future. 6 The business paid for the insurance covering full year amount OMR 2,800 in advance. 14 Business provided services to customer by collecting cash OMR 5,000 23 Mr. Naushad earned OMR 3,700 in revenue from the customer for service provided. Received OMR 2,000 the customer agreed to pay remaining amount later 25 Mr. Naushad paid OMR 8,000 to XYZ Automobiles. 27 Mr. Naushad paid the salary for his staff OMR 3,300. 30 The business paid rent OMR 2,700 for the month of August 2019. 30 Received the balance cash OMR 1,700 from the customer who previously billed for the service provided and paid partially on 23 August 2020. 31 Mr. Naushad withdrawn cash OMR 250 for his personal use. Required: Prepare Journal Entries, Ledger Accounts and Unadjusted Trial Balance. Marks Allotment Journal : 6 Marks Ledger : 6.5 Marks Unadjusted Trial Balance 2.5 Marks Solution: Journal Entries Date Account Tile L.F Debit Amount OMR) Credit Amount (OMR) Ledger Dr. Date CE JF (RO) Account Tile JF (RO) Date Accent Tile Dr. Date Account Tile F Cr JF (RO) KRO) Date Account Tile Dr. Date Account Tile F RO) Date Account Tile FRO) Dr. Date Cr JF RO) Account Tile J.F (RO) Date Account Tile Dr. Date Account Tile CE KRO) F RO) Date Account Tile JF Dr. Date Account Tile Cr D.FRO) F KRO) Date Account Tile Dr. Date Сг. DE RO) Account Tile UF KRO) Date Account Tile CE Dr. Date Account Tile F KRO) Date Account Tile JF RO) Dr. Date Account Tile . KRO) Date Account Tile DF CE (RO) Dr. Dale Account Tile F KRO) Date Account Tilc RO) Dr. Date Account Tile F (RO) Date CC RO) Account Tile DUE Dr. Date CE (RO) Account Tile W.F RO) Date Account Tile F Dr. Date Cr. (RO) Account Tile F (RO) Date Account Tile JF Dr. Date Account Tile F (RO) Date Cr RO) Account Tile F Dr. Date Account Tile DF (RO) Date Account Tile Cr. F (RO) Unadjusted Trial Balance Debit Credit Name of Account Balance(OMR) Balance(OMR) Total Page 1 of 7