1.Record the following transactions in a general journal Amount(KD) Date Description 1/1/2020 Being capital bought in by owner in the business amounting to KD 30000 1/1/2020 Purchase of a High pressure system for KD 5000 which has a useful life of 5 years 1/1/2020 Purchase of a vaccum cleaner for KD 210 which has a useful life of 7 years 1/1/2020 Purchase of a Oil seperation unit for KD 2000 which has a useful life of 4 years, which helps in seperating oil and water. 1/1/2020 Purchase of a water tank for KD 200 which has a useful life of 10 years 1/1/2020 Purchase of a generator for power backup for KD 350 which has a useful life of 10 years 1/1/2020 Purchase of a drainage unit for KD 400 which has a useful life of 4 years 1/1/2020 Purchase of a upholestery cleaner for KD 150 which has a useful life of 5 years 1/1/2020 Purchase of industrial hose for KD 120 which has a useful life of 6 years 1/1/2020 Purchase of electrical fittings for KD 600 which has a useful life of 6 years 1/1/2020 Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 1200 3/2/2020 Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 600 6/5/2020 Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 800 10/8/2020 Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 1200 12/9/2020 Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 300 5/1/2020 Being account recievable from a new customer(Abdul) and the billing amount is KD 400 on account 5/2/2020 Being account recievable from a regular customer(Abdul) and the billing amount is KD 200 on account 5/5/2020 Being account recievable from a regular customer(Abdul) on account on 5/2/20 and 5/1/20 is paid in cash partially amounting to KD 320 8/6/2020 Being account recievable from KPMG company on account for the employee car wash coupons under special privilege scheme amounting to KD 9200 8/8/2020 Being account recievable from a regular customer(mohd) and the billing amount is KD 200 on account 8/9/2020 Being account recievable from a regular customer on account on 5/2/20 and 5/1/20 is paid in cash full amounting to KD 280 10/10/2020 Being account recievable from the date 8/6/20 by KPMG company is paid fully 12/11/2020 being rent paid for the property amounting to KD 800 31/12/2020 Being rent paid in advance for the next month amounting to KD 800 31/12/2020 Being advertising expenses paid in advance for the next month amounting to KD 200 12/11/2020 being drawings made by the owner amounting to KD 5000 6/5/2020 being loan of KD 10,000 taken from the bank @4% p.a for business purpose 3/3/2020 being supplies purchased on credit from xyz company amounting to KD 200 4/4/2020 being supplies purchased on credit from abc company amounting to KD 400 31/12/2020 being a current liability of interest payment of loan recorded amounting to KD 270 15/12/2020 being a current liability of electricity payment amounting to KD 350 10/10/2020 Being advance taken for car wash but the car wash is yet to be done amounting to KD 100 8/8/2020 Being fabric shampoo and car wax taken on credit from AK is a part of account payable 31/12/2020 Being monthly salaries amounting to KD 2500 is due to be paid 31/12/2020 Being monthly water supply bill is yet to be paid and is classified in current liability
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1.Record the following transactions in a general journal |
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Amount(KD) |
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Date |
Description |
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1/1/2020 |
Being capital bought in by owner in the business amounting to KD 30000 |
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1/1/2020 |
Purchase of a High pressure system for KD 5000 which has a useful life of 5 years |
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1/1/2020 |
Purchase of a vaccum cleaner for KD 210 which has a useful life of 7 years |
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1/1/2020 |
Purchase of a Oil seperation unit for KD 2000 which has a useful life of 4 years, which helps in seperating oil and water. |
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1/1/2020 |
Purchase of a water tank for KD 200 which has a useful life of 10 years |
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1/1/2020 |
Purchase of a generator for power backup for KD 350 which has a useful life of 10 years |
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1/1/2020 |
Purchase of a drainage unit for KD 400 which has a useful life of 4 years |
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1/1/2020 |
Purchase of a upholestery cleaner for KD 150 which has a useful life of 5 years |
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1/1/2020 |
Purchase of industrial hose for KD 120 which has a useful life of 6 years |
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1/1/2020 |
Purchase of electrical fittings for KD 600 which has a useful life of 6 years |
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1/1/2020 |
Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 1200 |
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3/2/2020 |
Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 600 |
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6/5/2020 |
Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 800 |
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10/8/2020 |
Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 1200 |
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12/9/2020 |
Purchase of supplies of car wax , detergent ,sponge,car soap, plastic polish etc amounting to KD 300 |
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5/1/2020 |
Being account recievable from a new customer(Abdul) and the billing amount is KD 400 on account |
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5/2/2020 |
Being account recievable from a regular customer(Abdul) and the billing amount is KD 200 on account |
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5/5/2020 |
Being account recievable from a regular customer(Abdul) on account on 5/2/20 and 5/1/20 is paid in cash partially amounting to KD 320 |
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8/6/2020 |
Being account recievable from KPMG company on account for the employee car wash coupons under special privilege scheme amounting to KD 9200 |
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8/8/2020 |
Being account recievable from a regular customer(mohd) and the billing amount is KD 200 on account |
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8/9/2020 |
Being account recievable from a regular customer on account on 5/2/20 and 5/1/20 is paid in cash full amounting to KD 280 |
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10/10/2020 |
Being account recievable from the date 8/6/20 by KPMG company is paid fully |
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12/11/2020 |
being rent paid for the property amounting to KD 800 |
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31/12/2020 |
Being rent paid in advance for the next month amounting to KD 800 |
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31/12/2020 |
Being advertising expenses paid in advance for the next month amounting to KD 200 |
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12/11/2020 |
being drawings made by the owner amounting to KD 5000 |
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6/5/2020 |
being loan of KD 10,000 taken from the bank @4% p.a for business purpose |
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3/3/2020 |
being supplies purchased on credit from xyz company amounting to KD 200 |
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4/4/2020 |
being supplies purchased on credit from abc company amounting to KD 400 |
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31/12/2020 |
being a current liability of interest payment of loan recorded amounting to KD 270 |
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15/12/2020 |
being a current liability of electricity payment amounting to KD 350 |
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10/10/2020 |
Being advance taken for car wash but the car wash is yet to be done amounting to KD 100 |
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8/8/2020 |
Being fabric shampoo and car wax taken on credit from AK is a part of account payable |
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31/12/2020 |
Being monthly salaries amounting to KD 2500 is due to be paid |
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31/12/2020 |
Being monthly water supply bill is yet to be paid and is classified in current liability |
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