Ms. Abeer, a professional event planner for weddings and other occasions, started to practice her profession in Nizwa on May 1, 2020. During the first month of operation, the following events and transactions occurred May 1 - Ms. Abeer invested OMR 15,000 cash to start her event planning business. May 2 - Purchased for cash the following: furniture and fixtures OMR 4,000, and computer OMR 1,000. May 3 - Purchased from Al Tamam Air Conditioning equipment OMR 1,500, paying OMR 500 cash and the balance on account. May 4 - Paid for 3-month insurance in advance OMR 150. May 5 - Provided services to a customer Mr. Nasser OMR 800, collecting OMR 200 cash and the balance on account. May 10 - Paid partial payment of OMR 500 to Al Tamam on account for the purchases made on May 3. May 15 - Collected from Mr. Nasser the balance on account for the services made on May 5. May 20 Provided services on account and billed Ms. Halima OMR 1.000. May 25 - Paid the following bill: Electricity OMR 60, Telephone OMR 50, and Utilities OMR 90. May 28 - Ms. Abeer withdraw cash OMR 600 for her personal use. May 29 - Received a bill for advertising expenses OMR 50. May 30 - Collected from Ms. Halima OMR 600 on account for the services made on May 20. Required: 1. Journalize the above transactions in the General Journal 2. Post the journal entries to the General Ledger 3. Prepare the Trial Balance at the end of the month
Ms. Abeer, a professional event planner for weddings and
other occasions, started to practice her profession in Nizwa on
May 1, 2020. During the first month of operation, the following
events and transactions occurred
May 1
- Ms. Abeer invested OMR 15,000 cash to start her event
planning business.
May 2
- Purchased for cash the following: furniture and fixtures
OMR 4,000, and computer OMR 1,000.
May 3
- Purchased from Al Tamam Air Conditioning equipment
OMR 1,500, paying OMR 500 cash and the balance on account.
May 4
- Paid for 3-month insurance in advance OMR 150.
May 5 - Provided services to a customer Mr. Nasser OMR 800,
collecting OMR 200 cash and the balance on account.
May 10 - Paid partial payment of OMR 500 to Al Tamam on
account for the purchases made on May 3.
May 15
- Collected from Mr. Nasser the balance on account for
the services made on May 5.
May 20
Provided services on account and billed Ms. Halima
OMR 1.000.
May 25
- Paid the following bill: Electricity OMR 60,
Telephone OMR 50, and Utilities OMR 90.
May 28
- Ms. Abeer withdraw cash OMR 600 for her personal
use.
May 29
- Received a bill for advertising expenses OMR 50.
May 30
- Collected from Ms. Halima OMR 600 on account for
the services made on May 20.
Required:
1. Journalize the above transactions in the General
Journal
2.
3. Prepare the
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