Reference no: EM133095427

Question - Al Shams started on 1st January 2020. The following transactions of the business occurred during January

1. Al Shams started the business by investing $18,000 cash.

2. Land and an office building were acquired at a cost of 5,500 and 19,800. The company paid 6,300 immediately an established a short-term loan for the remaining balance payable in two years.

3. Purchased a mobile phone for personal use $550.

4. Design equipment was purchased. The cash price of 2,860 was paid by cheque to the supplier.

5. Office supplies totalling $275 was purchased on credit.

6. A one-year fire insurance policy was purchased for $880.

7. Fashion design commissions of $1,320 were collected from clients for June.

8. Al purchased a new ipod for $88 as a birthday gift to his wife.

9. An assistant wage of $660 was paid in June.

10. Al Shams withdraw $500 from the business for personal use.

11. Utility bills totalling 165 dollars for January where is saved and will be paid in early February.

Required - Prepare a worksheet for the month of June?