Sheraton Heliopolis Language Schools – American Division

2nd Quarter Exam

Grade: 12 Academic Year: 2018/2019

Subject: Accounting Instructor(s): Ehab Hosny
Student Name: _______________________________________Class: ___________

Frontier Park was started on April 1 by C.J.Mendez.The following selected events and
transactions occurred during April.

 1 Mendez invested $40,000 cash in the business.

 4 Purchased equipment’s costing $30,000 for cash.
 8 Received advertising bill for $1,800 that company decided to pay it next week.
 11 Paid salaries to employees $1,500.
 12 Hired park manager at a salary of $4,000 per month.
 13 Purchased supplies for $1,500 on account.
 17 Withdrew $1,000 cash for personal use.
 19 Paid $900 for the advertising bill in 8th of April
 20 Received $5,700 in cash for a service provided.
 25 Perform a service to a client for 6000 the client promised he will pay it next
month.

Instruction

a- Journalize the transactions

b- Prepare T-Account
c- Prepare income statement and statement of owner’s equity
Date Account Dr Cr
Dr CR Dr CR

Dr CR Dr CR

Dr CR Dr CR
Dr CR Dr CR