Accounting 434 Assignment I Ramallah computer repair service company was established in January of 2018

Accounting Mar 12, 2021

Accounting 434

Assignment I

Ramallah computer repair service company was established in January of 2018. For its second year of operations and at 31/12/2019 the adjusted balances were as follows:

Account	$
Advertising Expense	6,000
Cash	8,000
Rent	10,000
Service trucks	380,000
Tax Expense	2,000
Accounts receivable	164,000
Insurance Expense	4,600
Revenue from repairs	460,000
Wages Payable	26,000
Accounts Payable	37,000
J. Ali Capital	750,000
Arab Bank	77,000
Accumulated depreciation - Equipment	14,000
Utilities expense	7,000
Accumulated depreciation-service trucks	38,000
J. Ali drawing	20,000
Parts and supplies on hand	99,000
Miscellaneous Expenses	13,400
Prepaid insurance	15,000
Depreciation expense	12,000
Parts and supplies expense	67,000
Salaries	118,000,
Equipment	340,000