Homework Help is Here – Start Your Trial Now!
Business
Accounting
RO) 2012 Opening Balances : Buildings A/C Furniture A/C Cash A/C Bank A/C Al Kamil Steel Product Company A/C (Dr. Balance) Jan 1 40,000 25,000 10,000 12,500 10,000 7,500 Bank overdraft Capital A/C Brought additional capital into the business Deposited into bank Purchased goods and paid by cheque Purchased goods from Taghleef Industrial Company and got 5% trade discount Cash Sales Goods returned to Taghleef Industrial Company Purchased Equipment from Oman National Engineering Company Withdrew from bank for office use Sold goods to National Industries Paid Wages and Salaries Goods returned by National Industries Paid carriage inwards Received Commission Received from National Industries Paid to Taghleef Industrial Company Received from Al Kamil Steel Product Company in full settlement Paid to Taghleef Industrial Company in full settlement Goods Distributed as free samples Received a cheque from National Industries in full Jan 2 30,0 00 20,000 5,000 15,000 Jan 31 Feb 1 Feb 2 Mar 1 Mar 2 10,000 1,000 Mar 31 20,000 Apr 1 Apr 2 May 1 May 2 May 31 June 1 June 2 July 1 July 2 2,000 15,000 3,000 1,500 1,500 2,000 8,000 10,000 9,500 July 31 Aug 1 Aug 2 3.000 5.000 5,000 settlement Aug 31 Sep 1 Sep 2 Oct 1 Cash taken by proprietor for personal use Paid Telephone charges by cheque Paid Rent Paid for Fuel and Power 1,000 300 2.000 1,000

RO) 2012 Opening Balances : Buildings A/C Furniture A/C Cash A/C Bank A/C Al Kamil Steel Product Company A/C (Dr. Balance) Jan 1 40,000 25,000 10,000 12,500 10,000 7,500 Bank overdraft Capital A/C Brought additional capital into the business Deposited into bank Purchased goods and paid by cheque Purchased goods from Taghleef Industrial Company and got 5% trade discount Cash Sales Goods returned to Taghleef Industrial Company Purchased Equipment from Oman National Engineering Company Withdrew from bank for office use Sold goods to National Industries Paid Wages and Salaries Goods returned by National Industries Paid carriage inwards Received Commission Received from National Industries Paid to Taghleef Industrial Company Received from Al Kamil Steel Product Company in full settlement Paid to Taghleef Industrial Company in full settlement Goods Distributed as free samples Received a cheque from National Industries in full Jan 2 30,0 00 20,000 5,000 15,000 Jan 31 Feb 1 Feb 2 Mar 1 Mar 2 10,000 1,000 Mar 31 20,000 Apr 1 Apr 2 May 1 May 2 May 31 June 1 June 2 July 1 July 2 2,000 15,000 3,000 1,500 1,500 2,000 8,000 10,000 9,500 July 31 Aug 1 Aug 2 3.000 5.000 5,000 settlement Aug 31 Sep 1 Sep 2 Oct 1 Cash taken by proprietor for personal use Paid Telephone charges by cheque Paid Rent Paid for Fuel and Power 1,000 300 2.000 1,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Please help me experts to solve this problem Thank you.
Date Name of the Account Name of the Account Type of Voucher 2018 Dr Cr Jan 2 Jan 31 Feb 1 Feb 2 Mar 1 Mar 2 Mar 31 Apr I Apr 2 May 1 |May 2 May 31 June I June 2 July 1 July 2 July 31 Aug 1 Aug 2 Aug 31 Sep I Sep 2 Oct I
Transcribed Image Text:Date Name of the Account Name of the Account Type of Voucher 2018 Dr Cr Jan 2 Jan 31 Feb 1 Feb 2 Mar 1 Mar 2 Mar 31 Apr I Apr 2 May 1 |May 2 May 31 June I June 2 July 1 July 2 July 31 Aug 1 Aug 2 Aug 31 Sep I Sep 2 Oct I
Date Amount (in RO) 2012 Opening Balances : Buildings A/C Furniture A/C Jan 1 40,000 25,000 10,000 12,500 10,000 7,500 Cash A/C Bank A/C Al Kamil Steel Product Company A/C ( Dr. Balance) Bank overdraft Capital A/C Brought additional capital into the business Deposited into bank Purchased goods and paid by cheque Purchased goods from Taghleef Industrial Company and got 5% trade discount Cash Sales Jan 2 Jan 31 30,0'00 20,000 5,000 15,000 Feb 1 Feb 2 Mar 1 10,000 1,000 20,000 Mar 2 Goods returned to Taghleef Industrial Company Purchased Equipment from Oman National Engineering Company Withdrew from bank for office use Mar 31 Apr 1 Apr 2 May 1 May 2 May 31 Sold goods to National Industries Paid Wages and Salaries Goods returned by National Industries Paid carriage inwards Received Commission Received from National Industries Paid to Taghleef Industrial Company Received from Al Kamil Steel Product Company in full settlement 2,000 15,000 3,000 1,500 1,500 2,000 8,000 10,000 June 1 June 2 July 1 July 2 9.500 July 31 Aug 1 Aug 2 Paid to Taghleef Industrial Company in full settlement Goods Distributed as free samples Received a cheque from National Industries in full 3.000 5.000 5.000 settlement Aug 31 Sep 1 Sep 2 Cash taken by proprietor for personal use Paid Telephone charges by cheque 1,000 300 Paid Rent 2.000 Oct I Paid for Fuel and Power 1,000 e Wind
Transcribed Image Text:Date Amount (in RO) 2012 Opening Balances : Buildings A/C Furniture A/C Jan 1 40,000 25,000 10,000 12,500 10,000 7,500 Cash A/C Bank A/C Al Kamil Steel Product Company A/C ( Dr. Balance) Bank overdraft Capital A/C Brought additional capital into the business Deposited into bank Purchased goods and paid by cheque Purchased goods from Taghleef Industrial Company and got 5% trade discount Cash Sales Jan 2 Jan 31 30,0'00 20,000 5,000 15,000 Feb 1 Feb 2 Mar 1 10,000 1,000 20,000 Mar 2 Goods returned to Taghleef Industrial Company Purchased Equipment from Oman National Engineering Company Withdrew from bank for office use Mar 31 Apr 1 Apr 2 May 1 May 2 May 31 Sold goods to National Industries Paid Wages and Salaries Goods returned by National Industries Paid carriage inwards Received Commission Received from National Industries Paid to Taghleef Industrial Company Received from Al Kamil Steel Product Company in full settlement 2,000 15,000 3,000 1,500 1,500 2,000 8,000 10,000 June 1 June 2 July 1 July 2 9.500 July 31 Aug 1 Aug 2 Paid to Taghleef Industrial Company in full settlement Goods Distributed as free samples Received a cheque from National Industries in full 3.000 5.000 5.000 settlement Aug 31 Sep 1 Sep 2 Cash taken by proprietor for personal use Paid Telephone charges by cheque 1,000 300 Paid Rent 2.000 Oct I Paid for Fuel and Power 1,000 e Wind
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Value Chain Analysis
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.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS