1. Required, Journalize these transactions in General Journal Post these entries to the Ledger account Prepare the Trial Balance On 1 August 2015 the owners started their business with $ 500 000 deposieu into the company's bank account. On 2 August the company received $ 300 000 loan from the Sohar bank and deposited into the company bank account. On 3 August the company bought Land costs $ 400 000on credit. On 4 August the company bought Cars for $ 180 000using cheque. On 5 August the company bought Goods for $ 240 000on credit. On 6 the company bought Goods for $ 160 000 by cheque. On 7 the company sold Goods for $ 440 000 by cheque. On 8 the company sold Goods for $ 200 000on credit. On 9 August the company sold Land for $ 240 000 by cheque. On 10 August the company sold Cars for $ 80 000on credit. On 11 August the company paid Salaries $ 40 000 by cheque. On 12 August the company received Rent Revenue $ 20 000 by cheque. On 13 the company paid Phone expenses for $ 30 000 by cheque. On 14 the company received Rent revenue$ 20 000 by cheque. On 15 the company paid Interest expenses$ 20 000 by cheque. On 16 the company received Service revenue$ 40 000Cash. On 17 the company received Interest revenue $ 30 000 by cheque. On 18 the company paid Rent Expenses $ 20 000 Cash.
1. Required, Journalize these transactions in General Journal Post these entries to the Ledger account Prepare the Trial Balance On 1 August 2015 the owners started their business with $ 500 000 deposieu into the company's bank account. On 2 August the company received $ 300 000 loan from the Sohar bank and deposited into the company bank account. On 3 August the company bought Land costs $ 400 000on credit. On 4 August the company bought Cars for $ 180 000using cheque. On 5 August the company bought Goods for $ 240 000on credit. On 6 the company bought Goods for $ 160 000 by cheque. On 7 the company sold Goods for $ 440 000 by cheque. On 8 the company sold Goods for $ 200 000on credit. On 9 August the company sold Land for $ 240 000 by cheque. On 10 August the company sold Cars for $ 80 000on credit. On 11 August the company paid Salaries $ 40 000 by cheque. On 12 August the company received Rent Revenue $ 20 000 by cheque. On 13 the company paid Phone expenses for $ 30 000 by cheque. On 14 the company received Rent revenue$ 20 000 by cheque. On 15 the company paid Interest expenses$ 20 000 by cheque. On 16 the company received Service revenue$ 40 000Cash. On 17 the company received Interest revenue $ 30 000 by cheque. On 18 the company paid Rent Expenses $ 20 000 Cash.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter3: The Double-entry Framework
Section: Chapter Questions
Problem 6SEA: TRANSACTION ANALYSIS Linda Kipp starred a business on May 1, 20--. Analyze the following...
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Transcribed Image Text:Trail Balance
Account name
Dr
Cr
Transcribed Image Text:1. Required, Journalize these transactions in General Journal
Post these entries to the Ledger account
Prepare the Trial Balance
On 1 August 2015 the owners started their business with $ 500 000 depositeu into the company's bank
account.
On 2 August the company received $ 300 000 loan from the Sohar bank and deposited into the company
bank account.
On 3 August the company bought Land costs $ 400 000on credit.
On 4 August the company bought Cars for $ 180 000using cheque.
On 5 August the company bought Goods for $ 240 000on credit.
On 6 the company bought Goods for $ 160 000 by cheque.
On 7 the company sold Goods for $ 440 000 by cheque.
On 8 the company sold Goods for $ 200 000on credit.
On 9 August the company sold Land for $ 240 000 by cheque.
On 10 August the company sold Cars for $ 80 000on credit.
On 11 August the company paid Salaries $ 40 000 by cheque.
On 12 August the company received Rent Revenue $ 20 000 by cheque.
On 13 the company paid Phone expenses for $ 30 000 by cheque.
On 14 the company received Rent revenue$ 20 000 by cheque.
On 15 the company paid Interest expenses$ 20 000 by cheque.
On 16 the company received Service revenue$ 40 000Cash.
On 17 the company received Interest revenue $ 30 000 by cheque.
On 18 the company paid Rent Expenses $ 2O 000 Cash.
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