Recording financial transactions

Al Omari started a Buiness for furniture manufacturing, he deposited 20,000SAR in the bank and 30,000 SAR machinery.

what is the debit side?

• Capital

• Cash

• Bank and machines

• Capital, cash and machines

Al Omari purchased a land for 100,000 SAR on credit.

what is the journal entry for this transaction?

• Dr.Accounts payable

  Cr. Land

• Dr.land A/C

  Cr. Accounts payable A/C

• Dr. Cash A/C.

  Cr. Land A/C

• Dr. Land A/C

  Cr. Bank A/C

Alomari purchased raw material from supplier 1 for 19,000 SAR.

the amount paid by cheque.

what is the entry for this transaction?

• Dr. Purchases A/C

  Cr. Cash A/C

• Dr. Purchases A/C

  Cr. Bank A/C

• Dr. Sales A/C

  Cr. Accounts payable A/C

• Dr.Accounts receivable A/c

  Cr. Sales A/C

Alomari hired 15 workers to work in the assembly line of furniture.

what is the debit side?

• Workers

• Assembly line

• 15

• Not recorded in the accounting records.

Alomari paid the salaries of the employees by cheque.

what is the effect of this transaction?

• Decrease in assets, decrease in income.

• Decrease in assets, decrease in expenses.

• Decrease in assets, decrease in a liability

• Decrease in assets, increase in expenses.

Alomari borrowed money from Samba bank and the amount is deposited in Alomari bank account.

what is the effect of this transaction?

• Increase in assets, increase in liabilities.

• Decrease in assets, decrease in liabilities.

• Increase in liabilities, increase in Owner’s equity.

• Increase in liabilities, decrease in income.

Alomari sold furniture to customer 1, for 25,000SAR and sent the invoice to him.

what is the entry of this transaction?

• Dr. Sales A/C

  Cr. Cash A/C

• Dr. Bank. A/C

  Cr. Sales A/C

• Dr. Accounts receivables A/C

  Cr. Sales. A/c

• Dr. Purchases A/C

  Cr. Accounts payable A/C

Al Omari withdrawn 20,000SAR from the bank account for the wedding of his son.

what is the account to be debited?

• Bank account

• Cash account

• Drawings account

• Al omari's Son

Al Omari collected 10,000 cash from customer 1.

what is the account to be credited.

• Cash Account

• Bank account

• Accounts receivable

• Accounts payable

Al Omari for furniture purchased modern furniture to be used in the offices for welcoming customers for cash.

what is the account to be debited?

• Purchases Account

• Sales Account

• Furniture Account

• Cash Account