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The first Saudi facility for transportation services was established in Medina in April 1. The following financial transactions were entered into:

The facility began its operations with a capital of000,20 riyals.	in1/4
A delivery bus was purchased000,13 riyals in cash.	in4/4
A one year insurance policy has been paid for4,800 riyals.	in5/4
A loan was made from Alawwal Bank20,000 riyals.	in8/4
Salaried employees were hired1000 riyals per month.	in10/4
An advance payment has been received from a client to provide transportation services starting onMay 1, worth 4,500 riyals.	in15/4
Purchased office supplies worth1,200 riyals by check.	in18/4
Invoices have been issued to clients for services provided 7,500 riyals.	in20/4
Paid for advertising and wall advertisements amounting to:1,300 riyals.	in22/4
Invoices have been issued to clients for services provided8,600 riyals.	in23/4
has been withdrawn1,000 riyals for the owner of the establishment for his own account.	in25/4
Rent has been paid in advance for the next six months, starting from May3,600 riyals.	in29/4

additional information:

1-The facility has received the water and electricity bills for the month of April, which must be paid next month at an amount750 riyals.

2-The depreciation expense for the delivery bus for the month of April is 217 riyals.

3- Account for office supplies available at April 30 shows the value of 500 riyals.

4- Employees salaries for April will be paid next month.

Required:

1. Recording financial transactions in the journal for the month of April.
2. Posting journal entries to the general ledger and preparing the trial balance.
3. Preparing all necessary settlement entries, posting the entries to the general ledger, and preparing the trial balance after settlement.
4. Preparing financial statements.
5. Preparing closing entries and trial balance after closing.

Solution instructions:

1. Ensure that all settlement entries necessary to apply the accrual basis are prepared.

Unfortunately, this is the second time I have sent this assignment, and I hope it will be answered completely. Please prepare all necessary reconciliation entries, post the entries to the general ledger, and prepare a post-reconciliation trial balance. Also, please prepare the financial statements and prepare the closing entries and the trial balance after closing.

Note: Please solve these assignments because I do not know how to prepare them. I sent this assignment to you and it was not answered in the desired manner. Please help me solve this assignment completely.

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