Professional Documents
Culture Documents
Tegara English
First year
Financial
Accounting
Liabilities االلتزامات
A) Current Liabilities ( Short Term Liabilities ) االلتزامات قصيره االجل
Accounts Payable ) اوراق تستحق الدفع ( فلوس عليا بضمان شخصى
Notes Payable ) كمبيالة تستحق الدفع ( فلوس عليا بورق رسمى
Loan Payable ( less than one year )
B) Long Term Liabilities (More Than One Year) االلتزامات طويلة االجل
mortgage loans قروض عقارية
loan payable (more than one year) قروض طويله االجل
Notes
Solution
Journal entries
Dat Account title Acc- debit credit
e no
1/6 Cash 1 60,000
Ahmed, Capital 31 60,000
2/6 Furniture 12 8,000
Cash 1 3,000
Notes Payable 22 5,000
5/6 Cash 1 1,000
Accounts Receivable 2 4,000
Service Revenue 33 5,000
8/6 Ahmed, Drawing 32 1,000
Cash 1 1,000
12/6 Equipment 13 12,000
Cash 1 3,000
Accounts Payable 21 9,000
Example (3)
Nouran organized a business to provide boat repair services. The business
transactions during the month of may are described below:
Journal Entries