Question

Q1- Provide an example of each title here and then record the journal entries .  

Following is the first given answer.

1-Purchasing Equipment for cash

Given answer:

ABC company purchased equipment for SAR20,000 cash .

Equipment          20,000

        Cash                       20,000

2-Issuing common stocks receiving cash.

3-Providing service receiving cash.

4-Purchasing supplies on credit.

5-Borrowing money from a bank.

6-Paying employees their salaries.

PLEASE ALL EXAMPLES SHOULD BE THE SAME WAY ON THE GIVING ANSWER

Answer 1

Example of Journal entries as below:

1-Purchasing Equipment for cash

ABC company purchased equipment for SAR20,000 cash .

Equipment          20,000

        Cash                       20,000

2-Issuing common stocks receiving cash.

ABC company issued common stocks for SAR 50,000

Cash 50,000
ABC common stock 50,000

3-Providing service receiving cash.

ABC company provided services for SAR 6,000 in cash

Cash 6,000
Revenue/Sales 6,000

4-Purchasing supplies on credit.

ABC company purchased supply on credit for SAR 3,000

Purchases 3,000
Sundry Creditors 3,000

5-Borrowing money from a bank.

ABC company borrowed money from bank for SAR 15,000

Cash 15,000
Loan from Bank 15,000   

6-Paying employees their salaries.

​​​​​​​ABC company paid salaries to employess for SAR 1,500

Salaries expenses 1,500
Cash 1,500​​​​​​​