Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mr sultan decide to start a business of job consul

Mr Sultan decide to start a business of Job Consultancy Service that named as Global...

50.1K

Verified Solution

Question

Accounting

image

Mr Sultan decide to start a business of Job Consultancy Service that named as Global business. On 1st January 2021, he invested OMR 25,000 cash in the business. 3rd January. The business purchased computer for OR. 7,000 cash. 10th January. The business performed a service to a customer and receives OR. 2,000 cash 15th January. The business received a bill for OR 500 from the Advertising Agency for advertising on its website but the business postpones payment until a later date 24th January. The company paid an amount of cash of OMR 200 for Internet expenses 30th January. Mr Sultan withdraw cash of OMR 400 from the business for his personal use. You are required to show the effect of above transactions on accounting equation and prove the accounting equation at the end. (Marks 3)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Firms HL and LL are identical except for their financial leverage ratios and the interest rates...

Finance
1.2K views

Walsh Company is considering three independent projects, each of which requires a $6 million investment. The...

Advance Math
1.2K views

Prove that if f is a bounded function on a bounded interval [a,b] and f is...

Biology
1.2K views

How do people contract Paralytic Shellfish Poisoning PSP O inhaling mist from water that contains...

Physics
1.2K views

6 A straight wire having mass of 1 2 kg and length 1 m carries...

Physics
1.2K views

A hinged construction consists of three rhombi with equal sides The vertex A3 mo with...

Physics
1.2K views

A parallel plate air core capacitor is connected across a source of constant potential difference...

Algebra
1.2K views

Expand log?(2x/y?z?) completely using properties of the logarithm.

Accounting
1.2K views

exercise 19-31 (algo) general transfer pricing rule [lo 19-4] scottsdale manufacturing is organized into two...

Accounting
1.2K views

Scoring: Your score will be based on the number of correct matches. There is no...

Accounting
1.2K views

The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming...

Finance
1.2K views

6 A firm evaluates all of its projects by applying the IRR rule. Year Cash...