السلام عليكم
ممكن حل الاسايمنت الاول
ACCT 101
ASSIGNMENT 1
Last due date for submission 14 th October 2017
Each Question carries 2.5 marks.(Total Marks 10)
Q1. SALAH Accounting Services completed these transactions in February:
a. Purchased office supplies on account, SAR 600
b. Completed work for a client on credit, SAR 700
c. Paid cash for the office supplies purchased in (a)
d. Completed work for a client and received SAR 900 cash
e. Received SAR 200 cash for the work described in (b).
Prepare journal entries to record the above transactions.
Q2.Prepare a cash ledger from the following transactions during Feb 2017.
Feb.1 Shareholders invested $200 000 cash in the business in exchange for shares in the company.
Feb. 2 Purchased equipment for $150 000 cash.
Feb. 3 Purchased cleaning supply Expenses of $5 000 for the month from the Cleaning Warehouse Ltd. on credit
Feb. 4 Advertising expenses of $5 000 on account from Advertiser Ltd, to advertise the opening of the business.
Feb. 5 Paid cash $1 200 for a 1-year insurance policy.
Feb. 7 Weekly cash received for car washes of $6 000.
Feb. 9 Invoiced Rental Car Co. for $1 000, for car wash service for a fleet of cars.
Feb. 12 Paid rent of $4 000 for the month.
Feb. 14 Weekly cash received for car washes of $8 800.
Feb. 18 Invoiced Rental Car Co. for $1 500, for car wash service for a fleet of cars.
Feb. 21 Weekly cash takings for car washes of $10 300.
Feb. 24 Paid cash dividend of $1 000.
Feb 25 Rental Car Co. paid the invoice from the 9th of Feb.
Feb. 26 Paid the 4th Feb account from Advertiser Ltd.
Feb . 27 Paid salaries of $6 000 for the month.
Feb. 28 Weekly cash received for car washes of $13 500
Q3. Record the following transactions in the desired manner and give the adjusting entry on December 31, 2016. (Two entries for each part.)
1. An insurance policy for two years was acquired on April 1, 2016 for $8,000.
2. on NOV. 30 the company reveived $ 10000 cash aginst services to be provided in december 30. On that date service provided to the customer
Q4.From the following adjusted Trail Balance Prepare the 4 financial statements
Debit Credit
Cash
Accounts receivable
Equipment
Supplies Expenses
Advertisement
Salaries
Rent
Dividend
Insurance 72400
1500
150000
5000
5000
6000
4000
1000
1200 Common Stock
Accounts Payable
Car Revenues
200000
5000
41100
Total 246100 Total 246100
assigment 1 2017
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