Dawood works in one of the investment banks in the Kingdom of Bahrain as Vice-President of Investments. He earns a monthly salary of BD 8,000.00. Every fortnight, Dawood goes for online work that pays him BD 3,000.000 He also has investments that earn him the weekly amount of BD 2,500.378.   He owns several shops that generate a fortnightly income of BD5,750.139. Dawood is single and his expenses are the following, to wit: a. Monthly house amortization BD 2,300- b. Monthly Car amortization BD 700/- c. Monthly Electricity BD 150/- d. Weekly Subsistence (Food) BD 150/- e. Fortnightly Petrol BD 20/- f. Monthly Mobile Bill BD 50/- g. Driver’s fortnightly salary BD 100.000 h. Fortnightly money he gives his mother BD 300.000   B. Fill this budget form with the above data. Use the correct word and number placement. Write only the TOTAL MONTHLY amounts. If there is money left for Dawood, put a + sign but if there is no money left, put a – sign.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter14: Adjustments And The Work Sheet For A Merchandising Business
Section: Chapter Questions
Problem 7RQ
icon
Related questions
Question

Note: Before proceeding, check the meaning of the word

fortnight.

 

Dawood works in one of the investment banks in the Kingdom of Bahrain as Vice-President of Investments. He earns a monthly salary of BD 8,000.00.

Every fortnight, Dawood goes for online work that pays him BD 3,000.000

He also has investments that earn him the weekly amount of BD 2,500.378.  

He owns several shops that generate a fortnightly income of BD5,750.139.

Dawood is single and his expenses are the following, to wit:

a. Monthly house amortization BD 2,300-

b. Monthly Car amortization BD 700/-

c. Monthly Electricity BD 150/-

d. Weekly Subsistence (Food) BD 150/-

e. Fortnightly Petrol BD 20/-

f. Monthly Mobile Bill BD 50/-

g. Driver’s fortnightly salary BD 100.000

h. Fortnightly money he gives his mother BD 300.000

 

B. Fill this budget form with the above data. Use the correct word and number placement. Write only the TOTAL MONTHLY amounts. If there is money left for Dawood, put a + sign but if there is no money left, put a – sign.

INCOME:
TOTAL INCOME BD
EXPENSES:
TOTAL EXPENSES
BALANCE/DEFICIT BD
Transcribed Image Text:INCOME: TOTAL INCOME BD EXPENSES: TOTAL EXPENSES BALANCE/DEFICIT BD
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Accounting (Text Only)
Accounting (Text Only)
Accounting
ISBN:
9781285743615
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning