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Introduction to Accounting
Assignment # 1
“10 Marks”

 A company in the Kingdom of Saudi Arabia carried out the following financial
transactions. Record the journal entries for those transactions.

1 - Deposit of 1,000 in the company’s treasury by a cash withdrawing from the company’s bank
account.
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2 - Receipt of 1,500 Riyals in cash from an employee as a payment of his loan.

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3 - Fuel expenses of 700 Riyals and transportation expenses of 600 Riyals from the petty cash of an
employee.
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4 - Payment the rent of the administration office with 70,000 by bank transfer.
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5 - Purchase of land for 1,200,000, one-third in cash, one-third by bank transfer, one-third by bank
check.
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6 - Payment of transportation expenses of 250 Riyals in cash.

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7 - Stationery and publications for 1,750 Riyals from the petty cash of an employee.
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8 - Giving 10,000 Riyals in cash to an employee as a petty cash.

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9 - Payment of government fees of 33,000 Riyals by bank transfer.

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10 - Payment of the electricity bill of 763 Riyals by bank transfer.

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11 - Buying a car for 113,000 Riyals on credit.

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12 - Giving an employee a loan of 15,000 Riyals in cash.

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13 - Withdrawing the salary check amount of 175,000 Riyals from the company’s bank account.
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14 - Issuance of a check for the amount of 467,218 Riyals for the salaries of employees.
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15 - Deposit a customer check of 126,500 Riyals in the company's bank account.

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16 - Receipt of a check from customers with 56,850 Riyals.

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17 - Purchase of merchandise worth 125,300 Riyals from Al-Amal Company in cash.

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18 - Purchase of merchandise worth 96,100 Riyals from Al-Amal Company by bank transfer.
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19 - Purchase of merchandise worth 89,700 Riyals from Al-Amal Company by bank check.
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20 - Purchase of merchandise worth 119,950 Riyals from Al-Amal Company on credit.

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21 - Selling 100 units, the unit selling price is 13 Riyals, and the unit cost is 10 Riyals for Al Noor
Company in cash.
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22 - Selling 1000 units, the unit selling price is 9 Riyals, and the unit cost is 8 Riyals for Al Noor
Company by bank transfer.
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23 - Selling 500 units, the unit selling price is 10 Riyals, and the unit cost is 9 Riyals for Al Noor
Company by bank check.
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24 - Selling 2500 units, the unit selling price is 12 Riyals, and the unit cost is 11 Riyals for Al Noor
Company on credit.
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25 - Deduction of a vendor's check with 250,250 Riyals from the company's bank account.
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26 – Pay off the outstanding balance for a vendor's by bank check with 65,000 Riyals and by bank
transfer with 55,000 Riyals.
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27 - Adding the amount of a customer’s check with 77,500 Riyals to the company's bank account.
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28 - Receipt of the outstanding balance from a customer, 91,000 Riyals in cash, 36,000 Riyals by
bank check and 118,000 Riyals by bank transfer.
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29 - Adding the amount of a customer’s check with 111,630 Riyals to the company's bank account.
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30 - Selling 100 units, the unit selling price is 100 Riyals, and the unit cost is 93 Riyals for Al-
Wafaa Company on credit.
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“With best wishes”

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