QUESTION 5 Naser Company was established on April 1, 2019. Prepare journal entries to record...
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QUESTION 5 Naser Company was established on April 1, 2019. Prepare journal entries to record the following transactions (15 marks). April 1. Naser invested AED80,000 cash in the company and an additional AED55,000 to purchase equipment. April 2. Purchased supplies costing AED6,000 by paying 60% in cash and the remainder on credit. April 3. Offer services to Yaser company for AED24,000. Yaser paid by cash half of this amount. April 4. Paid AED16,000 cash for one-year office rent. April 5. Appointed a manager to start work next month for AED7,000 per month. April 6. Received AED11,000 from a client for services to be performed next month. April 7. Advertised in the newspaper for AED7,000 on account. April 8. Paid by cash half of the outstanding amount from his supplies purchase. April 9. Yaser paid half of the outstanding amount. April 10. Paid in full the advertising invoice
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