Question

Question 2. Prepare journal entries, T ledger accounts and a trial balance for the below given transactions. (40 marks) Ms. Aisha started a consultancy business in October 2019 and has following transactions in first month of her business. Oct. 1 Invested AED 100,000 cash into the business. Oct.9 Purchased office equipment for AED 15,000 on credit. (ered Purchased Office supplies for AED 1.500 by paying cash. (cash) Provided consultancy services on cash $9.500 Oct.12 Oct.15 Oct.20 Oct. 22 Paid for equipment purchased on March 9 Withdrew AED 5,000 from the bank least oct. 25 Provided services to a client on credit $6,000 (cvet) received a telephone bill for AED 2,000 (La ) Oct. 30 Oct. 31 Paid salaries to employees AED 6,000 for the month. (cash) Ref# Debit Credit 100,000 Date Description oct1 invested look cash into business locta Purchased office equipment oct 12 Purchased office supplies oct is provided consultancy service oct 20 paid for oct a equipment loct 22 withdrew from the bank oct 25 Provide services to client oct 30 telephone bill oct 31 Paid salaries to employees ISOD 9500 15000 5000 Gooo 2000 6000 |

Answer 1

Answer Ms. Aisha Joyrnal Entries for October Particulars Date Oct. Debit.$) Credit a OY 100000 - I cash Alc. - To capity | Ale | Beloff cash iquested in bystgeis) 160000 J 16000 Office Equipment Ale To Accounts Paypble - (Gulpoqeal) (Being equipment purchqiel on credit] 15000 ori | 1500_ 12. Office Supplies Ale __ I To cash Ale (Bring office supplies purchased in 1500 aih 15. Cash Ale -Dr. | 9500 To Consultancy service Revenue (Being cash received for service revenue) 9500 20. Accounts Payable Ale (Equipment)_ Ovid 15000 _ To Cash Ali I (being paid qcounts payable for equipment] 15006 - on sooo 11 22. Drawings Alo To Cash Al withdrew • 5000 from business

R5 Accounts Pereivable Alc - To Consult997y Service fevegye als (Being serulces provided on account) er 200g 200o 30. Telephone Bill Ale To Accounts Payable - (Telephone Bill). (Being telephone bill payable for the month ) . salaujes Alc СТ. Саh 4/< (Being salaries poil in cash) Gooo Total 16000 16oooo

Lelger Accouges Capital All Am! 4) Date I particulars - Oct 31 To Balance ell amery Mate Particulars 180ooo Joct. L. By qih Alc 100000 100000 10001 Office Equipment Date Octs - Particulars to accouds_layable (Equipment) amb c 15000 Oque parti e/955 Oc: 31|By Bulags_cl | Ant. 15000 15000 15000 Office Supplies Ipate Lock It Pyytjulgus To Cash Ala Amb (8) Pyte I Paululars _lock 3) | By @gl99 ce Ant (6) 15001 1500 1500 1500 Consul 99. wy sevice Revenue Date I Partjulaus ||0c2.31 7. Bilance al aml.: (9) ISSO Olt Party]q«5 (Oct. 15 By Cash Ale Tock.25 18j Accounts Recelupble Amt $2 9500 60o6 15500 15500 "Ogre I Pertical qus. Oct-22 To Gsh Al Draw 1995 Amt (S) 1 5000 lock 32 By Bilance eld sooo 5000 5000

| ام ۱۰۱ (۱۱) د Accougly frcevable Time (4) Oute Portius per Good lots By Glaice all | Amt COO Oil. 257. Goxultzawy Spise Revenue 60.0 6000 Telephone BiL AMI Ipate 61.30 I Poothulu To Accountz_liq.yable (Telephone Bill) harry 2000 Patel 00,31 Pirkylars By Balance c|L 2000 2004 2000 Salaries n Leute Lod. 3 . Particular Te cach Alc a 6000 Oute particulous oct. 31 By Balance de Amt 6000 6000 6000 Accounts legable - Equipment Date Oct. 20 Partjul/9r5 To Cash Ala M18) Pyte . 15000 Octa Partiullaug To Office Equipment I AMICS 15000 I 15000 15000 AME. & Date I Partjyl aus act. 31 To kelance of Accounts payable - Telephone Bill Ant (1) Oute I particulars 2000 104.3 By Telephone Bill 2000 I 2000 2000

AMES Gsh Account Date Amt. Particulars partiul/qv5 Ogte Ork lock ut to capaz LAL 100600 | 12. | By office_supplies 1500 15. To consultou service | 9500_| 29 | By Accounts P44f66e15000 Revenue F liquipment.) - 0பாட்ட Soco by Salquier By Balance ! 6000 22000 109>DO logroo Trigl Balance Debit Balance Amt. ($) 2 Credit Balance Amt) ash 100000 1 Lofflie_ Equipment Office Supplies Diqwing Accounts Reservable Telephone Bill Salordes 82000 | apitel 15000 consultancy Service Revegye 600 accounts Payable - Equipoyent 5000 Account Payable - Telephone 6ooo انو 2000 6000 117500 117500