Date Transaction Mr. Salim Ahmed started business as Ahmed Enterprise with OMR 7000 cash and Furniture valued at RO. 3000 as capital 1.1.2020 15. 2. 20 Opened Bank Account and deposited 5000 OMR Cash 29.3.20 Purchased goods from Sharuk Traders for OMR 4500, paid 10 % cash and remaining on credit 21.6.20 Sold goods for 14000 OMR. 50% received in cash remaining on account to M/s. Muscat Enterprises 4.9.2017 Purchased building from Ansari Traders 2500 OMR , paid by cheques full amount . 9.12. 20 Settled accounts of Sharuk Traders. 29.12.20 Paid Salary expense 500 OMR for the month of December 20 31.12.20 Received rent revenue of 1200 OMR in cash.

Date Transaction Mr. Salim Ahmed started business as Ahmed Enterprise with OMR 7000 cash and Furniture valued at RO. 3000 as capital 1.1.2020 15. 2. 20 Opened Bank Account and deposited 5000 OMR Cash 29.3.20 Purchased goods from Sharuk Traders for OMR 4500, paid 10 % cash and remaining on credit 21.6.20 Sold goods for 14000 OMR. 50% received in cash remaining on account to M/s. Muscat Enterprises 4.9.2017 Purchased building from Ansari Traders 2500 OMR , paid by cheques full amount . 9.12. 20 Settled accounts of Sharuk Traders. 29.12.20 Paid Salary expense 500 OMR for the month of December 20 31.12.20 Received rent revenue of 1200 OMR in cash.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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