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Pass journal entries and prepare ledgers and trial balance

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Reference no: EM132504446

Question - Pass Journal Entries and prepare ledgers account and trial balance with the help of the following transactions:

March 1, commenced business with cash SR 150,000.

March 2; Purchased Car SR 40,000.

March3; Purchased two scooters from XY Company SR 30,000.

March 4: Rent received SR 15,000.

March 5; Telephone charges paid SR 7,000.

March 6; Cash paid to XY Company SR 30,000.

March 7; Sold one scooter SR 12,000.

Pass journal entries and prepare ledgers and trial balance from the above question. After trial balance, prepare Income statement and Balance Sheet.

Reference no: EM132504446

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