Mr. ER established the Osman Company on January 1, 2018 and the company made some...
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Accounting
Mr. ER established the Osman Company on January 1, 2018 and the company made some transactions during January, 2018. a) Analyze the effects of transactions mentioned below on accounting equation. The column headings should be as follows: Cash, Accounts Receivable, Equipment, Accounts Payable, Owners Capital, Owners Drawings, Revenues, Expenses. 1- Mr. Er started his business by investing 20.000 TL for cash. 2- Purchased office equipment for 4.000 TL for cash. 3- Received cash for business services, 1.500 TL. 4- Provided services for 2.500 TL on credit. 5- Paid salaries of 1.200 TL. 6- Incurred 600 TL of advertising costs on credit. 7- Collected receivables of 500 TL for transaction 4 above. 8- Withdrew 1.000 TL for personel use. b)Prepare the financial statements of the ER Company by using accounting databased on the tansactions mentioned above. Format required: MS Word , Times New Format,font size 13 Line spacing 1.0 Pages required: 3-6 ( Plagiarism rate must not be more than 20 Percent )
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