Given below are the transactions related to Omar Enterprises for the month of March 2020. Date Transactions March 2020, 1 Mr. Omar is the proprietor started business with Cash 150,000 and Machinery 50,000 OMR (i) (ii) 3 Purchased Building for OMR 80,000 and paid OMR 50,000 in cash and remaining amount to be paid in the near future Borrow money from Bank Muscat 5 Purchased goods for cash 6 Purchased a computer for office purposes 7 Cash Sales 8 Paid electricity expenses 9 Purchased stationery for office use 10 Purchased goods from XYZ Limited 11 Sold goods on credit from ABC LLC Saham 12 Paid telephone charge 14 Paid the remaining OMR 30,000 for the building bought on 3rd March 15 Paid rent 17 Commission received 22 Sold goods to Mr. Ali Ibrahim for Cash 25 Paid Salary to Employees 26 | Mr. Omar withdraw cash for personal use 20,000 34,000 1,200 16,000 400 320 40,000 40,000 800 1,200 2,400 24,000 2,400 2,000 REQUIRED TO PREPARE A. Joumal Entries B. Ledger Accounts C. Trial Balance
Given below are the transactions related to Omar Enterprises for the month of March 2020. Date Transactions March 2020, 1 Mr. Omar is the proprietor started business with Cash 150,000 and Machinery 50,000 OMR (i) (ii) 3 Purchased Building for OMR 80,000 and paid OMR 50,000 in cash and remaining amount to be paid in the near future Borrow money from Bank Muscat 5 Purchased goods for cash 6 Purchased a computer for office purposes 7 Cash Sales 8 Paid electricity expenses 9 Purchased stationery for office use 10 Purchased goods from XYZ Limited 11 Sold goods on credit from ABC LLC Saham 12 Paid telephone charge 14 Paid the remaining OMR 30,000 for the building bought on 3rd March 15 Paid rent 17 Commission received 22 Sold goods to Mr. Ali Ibrahim for Cash 25 Paid Salary to Employees 26 | Mr. Omar withdraw cash for personal use 20,000 34,000 1,200 16,000 400 320 40,000 40,000 800 1,200 2,400 24,000 2,400 2,000 REQUIRED TO PREPARE A. Joumal Entries B. Ledger Accounts C. Trial Balance
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 44P
Related questions
Topic Video
Question
Transcribed Image Text:Given below are the transactions related to Omar Enterprises for the month of March 2020.
Transactions
March 2020, 1 | Mr. Omar is the proprietor started business with
Cash 150,000 and
Machinery 50,000
Date
OMR
(i)
(ii)
3 Purchased Building for OMR 80,000 and paid
OMR 50,000 in cash and remaining amount to be
paid in the near future
Borrow money from Bank Muscat
5 Purchased goods for cash
6 Purchased a computer for office purposes
7 Cash Sales
8 Paid electricity expenses
9 Purchased stationery for office use
10 Purchased goods from XYZ Limited
11 Sold goods on credit from ABC LLC Saham
12 Paid telephone charge
14 Paid the remaining OMR 30,000 for the building
bought on 3rd March
15 Paid rent
17 Commission received
22 Sold goods to Mr. Ali Ibrahim for Cash
25 Paid Salary to Employees
26 Mr. Omar withdraw cash for personal use
20,000
34,000
1,200
16,000
400
320
40,000
40,000
800
1,200
2,400
24,000
2,400
2,000
REQUIRED TO PREPARE
A. Joumal Entries
B. Ledger Accounts
C. Trial Balance
D. Income Statement
and
E. Balance Sheet
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
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.Recommended textbooks for you