required 1 - Prepare the trial balance in a table (2) Prepare the income statement for the financial period ending on 12/31/2023 in a table (3) Prepare the statement of financial position (budget) as it is on 12/31/2023 in a table 1 - On 1/1/2022 - The company was established during 2022 and began its activity by depositing the capital in the amount of 110,000 riyals, half in cash and the other half in the bank. 2- On February 19 - some educational tools and office furniture worth 13,000 riyals were purchased in cash. 3- On 3/15 - the company provided repair work worth 7,500 riyals to Al-Ahmad Company on credit. 4- On April 20 - the company paid some of the insurance expenses due in the amount of 6,000 riyals in cash. 5- On May 17 - the company obtained the amount due to it from Al-Ahmad Company by check 6-On 6/28 - Purchase some equipment worth 9,000 riyals with a check 7-On 7/18- the company provided repairs worth 850 riyals to Jad Electronics on credit. 8- On August 12 - Industrial equipment rental expenses amounting to 3,000 riyals were paid in cash. 9- On 9/9 - some painting supplies worth 900 riyals were purchased from the Roach Foundation on credit. 10-On 10/15 - the office's electricity bills amounting to 400 riyals were paid by check. 11 - On 11/17 - some mechanical devices and equipment worth 12, 000 riyals were purchased in cash. 12- On 12/28 - some salary expenses amounting to 80,000 riyals were paid in cash.
required 1 - Prepare the trial balance in a table (2) Prepare the income statement for the financial period ending on 12/31/2023 in a table (3) Prepare the statement of financial position (budget) as it is on 12/31/2023 in a table 1 - On 1/1/2022 - The company was established during 2022 and began its activity by depositing the capital in the amount of 110,000 riyals, half in cash and the other half in the bank. 2- On February 19 - some educational tools and office furniture worth 13,000 riyals were purchased in cash. 3- On 3/15 - the company provided repair work worth 7,500 riyals to Al-Ahmad Company on credit. 4- On April 20 - the company paid some of the insurance expenses due in the amount of 6,000 riyals in cash. 5- On May 17 - the company obtained the amount due to it from Al-Ahmad Company by check 6-On 6/28 - Purchase some equipment worth 9,000 riyals with a check 7-On 7/18- the company provided repairs worth 850 riyals to Jad Electronics on credit. 8- On August 12 - Industrial equipment rental expenses amounting to 3,000 riyals were paid in cash. 9- On 9/9 - some painting supplies worth 900 riyals were purchased from the Roach Foundation on credit. 10-On 10/15 - the office's electricity bills amounting to 400 riyals were paid by check. 11 - On 11/17 - some mechanical devices and equipment worth 12, 000 riyals were purchased in cash. 12- On 12/28 - some salary expenses amounting to 80,000 riyals were paid in cash.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:required 1- Prepare the trial balance in a table (2) Prepare the income statement for the financial period ending on
12/31/2023 in a table (3) Prepare the statement of financial position (budget) as it is on 12/31/2023 in a table 1 - On
1/1/2022 - The company was established during 2022 and began its activity by depositing the capital in the amount of
110,000 riyals, half in cash and the other half in the bank. 2- On February 19 - some educational tools and office
furniture worth 13,000 riyals were purchased in cash. 3- On 3/15 - the company provided repair work worth 7,500
riyals to Al-Ahmad Company on credit. 4- On April 20- the company paid some of the insurance expenses due in the
amount of 6,000 riyals in cash. 5- On May 17 - the company obtained the amount due to it from Al-Ahmad Company
by check 6-On 6/28 - Purchase some equipment worth 9,000 riyals with a check 7-On 7/18- the company provided
repairs worth 850 riyals to Jad Electronics on credit. 8- On August 12 - Industrial equipment rental expenses amounting
to 3,000 riyals were paid in cash. 9- On 9/9 - some painting supplies worth 900 riyals were purchased from the Roach
Foundation on credit. 10-On 10/15 - the office's electricity bills amounting to 400 riyals were paid by check. 11 - On
11/17 - some mechanical devices and equipment worth 12, 000 riyals were purchased in cash. 12- On 12/28 - some
salary expenses amounting to 80,000 riyals were paid in cash.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps with 6 images
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
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education