Question

Carpet Company began operations in May and completed the following transactions during that first month of operations.
Pass journal entries to record the following transactions
1 May Carol, the owner, invested OMR 90,000 cash in the Company.

2_The Company purchased OMR 25,000 in office equipment. It paid OMR 10,000 in cash and signed a note payable for the balance.

3_The Company rented office space and paid OMR 3,000 for the 12 months' rent,

4_The Company installed new carpet for a customer and immediately collected OMR 5,000.

5_The Company paid a supplier OMR 2,000 for materials used on the job.

6_The Company purchased a copy machine of OMR 2,500 for office use on credit.

7 May _Purchased office equipment for OMR 30,000, paying OMR 8,000 cash and agreeing to pay the balance in one year.

8_Purchased office supplies for OMR 750 cash.

9_Completed work for a client and immediately collected OMR 2,700 cash for 8 May 9 May the services.

10_Received telephone bill, OMR 300.
Immediately paid OMR 100 and the payment for the remaining was deferred until next month.

12_Received OMR 3,600 from a client for the work completed.

13_Paid the office secretary's salary for two weeks, OMR 300 cash.

14_Carol withdrew OMR 2,000 for personal use.

15_The Company have rented a machine and paid OMR 200 cash for the rent.

16_The Company took a bank loan to use for the business operations, OMR 5,000.

17_The Company paid OMR 750 cash for this month's cleaning services.

18_The Company provided carpet services for a client and immediately collected OMR 5,400 cash.

19_The Company provided carpet services of OMR 2,500 for a client on credit.

20_The Company received OMR 2,000 as advance payment from a customer for services to be provided next week.

21_ The Company received OMR 2,500 cash payment for the services provided on

Answer 1

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