Question

The following transactions occurred during the year 1999:

March 1, lawyer Abdulaziz begins his own business as a real estate with a cash investment of 100,000$.

On March 2, $20000 was paid as a rent for the office.

On March 3, he purchased office equipment for10000$ paid 2000 cash and 8000 on credit.

On March 3, he purchased supplies for 500$ cash.

On march 3, $1500 was paid for advertising expenses

On March 20, he paid workers salaries s of $ 3,000 cash.

On March 1, Abdulaziz borrowed 10,000$ by signing 5%, one-year note on April1, 2000.

On march 23, Purchased a one-year fire insurance policy for 30,000$.

On march 23, he withdrew $ 1000 in cash for personal use.

On march 24, he performed a legal services for clients for $5000 cash

On march 25, he performed a legal service for client for $10000 of service he received cash of 6000 and it bill the balance 4000 on account.

On march 27,$500 paid cash as a payment of equipment credit

On march 29,hr received 1800 in cash from client who had been billed

Utilities expense incurred but not paid on March 31, 1999.250$.

On march 31, used office supply during the month $150

Adjustment data

The equipment purchased on March 3, 1999, is being depreciated using the straight-line method over 10 years, with a salvage value of $1,800.

Abdulaziz Law office estimates that uncollectible accounts receivable at year-end are $2200.

The short-term note is dated march 1, 1999, and carries a 5% interest rate.

prepar adjusted journal and adjusted ledger and adjusted trial balanc

Answer 1