Question

A DuVery Ahmed and Ali, had saved some cash and decided to start a Small Delivery Business called A&A Delivery. The business will have a monthly accounting cycle. They have started their business on Jan 1, 2017. The following are some events that happened in 2017. 1. Jan 1. Ahmed and Ali invested 40,000 SAR in cash and used Truck That cost 70,000 SAR in exchange for 110,000 SAR ordinary shares in A&A Delivery 2. Jan 1. A&A Delivery rented a small car that cost 28,800 SAR annually. The full payment due in Dec. 31, 2017. 3. Jan 2. A&A Delivery paid 3,600 SAR for a one-year insurance policy for the used truck that will expire Dec. 31, 2017 4. Jan 3. A&A Delivery purchased some tools, and other supplies, from saco signing 5 months note payable in the amount of 12,000 SAR. The note required A&A Delivery to pay interest at an annual rate of 15%. 5. Jan 5. A&A Delivery purchases A dolly and set of ratchet straps to secure cargo and other equipment for 7.000 SAR cash. 6. Jan 7. A&A Delivery haired 2 drivers starting Jan 8, 2017. Each driver agreement set the salary to be 600 SAR for a six-day work week, and the salaries will be paid on the eighth day of every month. 7. Jan 12. A&A Delivery received total of 5,800 SAR for delivery services from Riyadh to Dammam. 8. Jan 13. A&A Delivery received 3,500 SAR in cash from a client for a reservation of a delivery service to be provided on Jan 17, 2017. 9. Jan 14. A&A Delivery provided services for 5,000 SAR on account 10. Jan 15. A&A Delivery received 500 SAR cash in advance for a reservation of a delivery service. The service should be provided on Feb 2, 2017. 11. Jan 17. A&A Delivery provided the service (paid on Jan 13) 12. Jan 30. A&A Delivery paid 1100 SAR utilities expenses. 13. Jan 30. A&A Delivery paid 900 SAR cash dividends to shareholders. Additional information: • Tools, and other supplies on hand 8000 SAR. • The 2 drivers worked 21 days in Jan. • The accountant updated the rent and insurance • Depreciation Truck 800 SAR , equipment 350 SAR

Requierments:

1- General Journal

2-Ledger accounts

3-unadjusted trial balance

4-adjusted trial balance

5-Income Statement

6-retained earnings statement

7-Statement of Financial position

8-Post-closing trial balance

Answer 1

Due to space constraints, this was the maximum which I could have uploaded

x 2Y Set = Book2 - Excel ? 17 - FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Kushal Poddar X Cut Calibri 11 AA == Wrap Text General E DX AutoSum A Paste Copy BIU - 9 A Merge & Center - Protect $ -% 480. Conditional Format as Cell Insert Delete Format Sort & Find & - Format Painter Formatting Table Styles - - Filter -Select- Clipboard Font Alignment Protection Number Styles Cells Editing A3 - X Fx S No Sensitivity: Internal (C3) | All Employees and Partners Public (C4) Internal (C3) - Confidential (C2) Secret (C1) C D E F G Joumal In the books of A&A Delivery 13-Jan Cash C Dr 3.500 Adjusting entries 3 S No Particulars Dr/Cr. Dr SAR CSAR Tu Unearned Revenue Alc 4 1 lan Cash Alc 40,000 (Being unearned revenue recorded) 31-lan Rent A/c Dr 2,401 Truck A/C Dr 70.000 To Rent Payable A/C To Capital NC 110,000 11-Jan Debtors NC Dr 5.000 (Being rent charged for 1 month) (Being capital introduced) To Sale of services Alc a l 5,000 (Being amount sale of services 31 Jan Insurance A/C recorded) 9 2-Jan Prepaid Insurance I D 3,600 To Prepaid Insurance NC C To Cash Alc 3,600 15-lan Cash Alc Dr (Being insurance charged for 1 month) (Being prepaid insurance paid) IC 500 To Uneamed Revenue Nc (Being uncarned revenue rocorded) Dr 1,150 12 133-lan 14 12.000 Tools and Sunnlies Alr To 15% Note Payable (Reing Purchase recorded) 31-Jan Depreciation Ne To Truck Ac To Equipment Alc (Reing depreciation charged) 12.000 Dr 3,500 c r 15 17-Jan Unearned Revenue Alc To Sale of services Ac (Being revenue recorded) 3.500 nr 7,000 Dr 4.200 7.000 4.200 5-lan Equipement Alc lo Cash Ala (Bcing Dolly and Sct of rachet straps purchased) 30-Jan Utlities Expense A/C To Cash Nc 31-lan Salaries Alc To Salaries Payable Ac (Being salary charged for 2 drivers for 21 days) 1,100 (Being expenses recorded) De 5,800 5,800 Dr 900 31-Jan Dividend paid Ne To Cash Alc 21 12-Jan Cash A/C To sale of services Ne (Being amount received for sale of services) Sheet2 Sheet1 READY -- + 20% + P O Type here to search 0 0 0 9 e AR =< 11/9/2019

x ? 17 - Kushal Poddar REVIEW DATA == Book2 - Excel VIEW Wrap Text General Merge & Center - Protect $ -% E AutoSum - A Set = FILE HOME INSERT PAGE LAYOUT FORMULAS X Cut Calibri 11 AA Paste Copy Format Painter B I U . - 9-A Clipboard Font AZ - X Fx Date # E L 8... Conditional Format as Cell Formatting Table Styles Styles EX Insert Delete Format - - Cells Clear Sort & Find & Filter -Select- Editing Alignment Protection Number Sensitivity: Internal (C3) All Employees and Partners Public (C4) Internal (C3) - Confidential (C2) Secret (C1) А MNOPQA 2 Cr D Date Particulars 1 -Jan To Capital Alc 3 Rent Payable Dr 2,400 ate Particulars 31-Jan To Balance c/ l Date Particulars 31-Jan By Rent Alc 1 2,400 CDE Cash Alc Particulars 40,000 2-lan By Prepaid Insurance A/C 5.800 5-Jan By Equipment Alc 3.500 30-Jan By Utilities Expenses Nc 500 30-Jan By Dividend paid Alc 30-Jan By Divide 31 Jan By Balance c/f 49,800 5 2,400 2,400 12-Janio Sale of services 13-Jan To Unearned revenue 15-Jan To Unearned revenue 3,600 2.000 1 100 900 37,200 49,800 Date Particulars 31-Jan To Rent Payable A/ C Rent A/C Dr 2 ,400 Date Particulars 31-Declby Profit and Loss A/C Cr 2.400 2,400 2,400 Date Particulars 31-Jan To Balance c/f Capital Alc Dr 110,000 Date Particulars 1-Jan By Cash Alc 1. Jan By Truck A/ Cr 40,000 70,000 WER Date Particulars 2. lan To Cash A/C 110,000 Prepaid Insurance A/C Dr Date Particulars 3,600 31-Jan By Insurance Expense. Alc. 31-Jan To Balance c/f 3,600 C 300 3,300 3,600 Date Particulars 5 lan To Cash Alc Equipment A/C Dr Date Particulars 7,000 31-lan By Depreciation A/c 31-Jan By Balance c/f 350 6,650 Date Particulars 31-Jan To Prepaid Insurance NcI Insurance Expense Date Particulars 300 31-Dec By Profit and Loss N. 1 300 7,000 7,000 300 300 25 26 Date Particulars 31-Jan To Capital Alc Truck A/C Dr 70,000 Date Particulars 31-lan Ry Depreciation A/c By Balance c/t Cr 800 69.200 Sheet2 Sheet1 + READY O + 20% # P -- AR =< 11/9/2019 O Type here to search 0 0 0 9 e

x ? 17 - Kushal Poddar Book2 - Excel REVIEW VIEW EWrap Text General Merge & Center - Protect $ -% E AutoSum A Set = FILE HOME INSERT PAGE LAYOUT FORMULAS DATA Calibri .11 AAT = Paste B Format Painter IU - 9 A Clipboard Font G53 - X Fax Sensitivity: Internal (C3) | All Employees and Partners Copy 8... Conditional Format as Cell Formatting Table Styles Styles DX Insert Delete Format - - Cells Clear Sort & Find & Filter -Select- Editing Alicement Protection Nurnber Internal (C3) - Confidential (C2) Secret (C1) Public (C4) F 70,000 G H | 70,000 Date Particulars 3-Jan 1o 15% Notes Payable A/c Tools and Supplies Als Dr Date Particulars 12,000 31-Jan By Profit and Loss A/C 31-Jan By Balance clf 4,000 8,000 Date Particulars 31-Jan To Profit and Loss A/c Sale of Services A/S Dr Date Particulars 14,300 12-Jan By Cash A/C 11-Jan By Debtors NC 17-Jan By Unearned revenue 5,800 5,000 3.500 12,000 12,000 14,300 14,300 Date Particulars 31 Jan To Balance c/ 15% Notes Payable Alc Dr Date Particulars 12,000 3-Jan By Tools and Supplies AC Cr 12,000 Date Particulars 17-Jan To Sale at Services Alc 31-Jan To Balance / Unearned revenue ALC Dr Date 1 Particulars 3,500 13-Jan By Cash Alc 500 15-Jan By Cash A/C 4.000 Cr 3,500 12,000 12,000 4,000 Date Particulars 31-Jan To Salaries Payable A/C Salarles Alc Dr 4.200 Date Particulars 31-Jan By Profit and Loss AC 4,200 Date Particulars 14 lan To 5ale of Services A/c Debtors A/c Dr 5 ,000 Date Particulars 31-Jan By Balance c/f C 5,000 1 4,200 4,200 5,000 5,000 Date Particulars 31-Jan To Balance cft Salaries Payable Alc Dr Date Particulars 4,200 31-Jan By Salaries A/C Cr 4,200 1 4,200 Date Particulars 30-Jan To Cash Ale Utilities Expenses Alc Dr Date Particulars 1.100 31-Jen By Profit and Loss AC ar 1.100 53 4,200 54 1,100 1,100 Sheet2 Sheet1 READY O + 20% # P -- AR =< 11/9/2019 1:35 PM O Type here to search 0 0 0 9 e