Omar Khaled :214061

Lojin emad:214107

Ashraf el sayed:238475
Youssef Mansour: 235127

1
Scope started a new real estate company on dec 1.

1- On dec 1. … invested 230,000 L.E cash

2- On dec 2 Company purchased 30,000 L.E land on cash
3- On dec 3. … purchased supplies for 50,000 L.E on cash
4- On dec 4. The company purchased a 50,000 L.E building for work and paid 30,000 L.E
5- On dec 5. The company purchased office equipment 60,000 L.E on cash
6- On dec 6. The company Paid 20,000 L.E on 13-month insurance policy
7- On dec 7. The company Completed a work plan for a client for 13,000 L.E and Received 8,000 on
cash
8- On dec 8. The company paid 4,500 L.E cash for 3 months’ rent
9- On dec 9. Hossam Hemat withdrawal 7,000 L.E from the company for personal use
10- On dec 10. The company received 5,000 L.E cash as partial payment from the client described in
transaction 7
11- On dec 11. The company paid 10,000 L.E balance due for the payable created on dec 4
12- On dec 12. … Received 7,000 L.E in advanced for consulting services to a customer
13- On dec 13. The company billed a customer 1,500 L.E as fees for services provided
14- On dec 14. Company sold equipment of 20,000 L.E to mountain view company paid half on cash
and remained amount on account
15- On dec 15 Company paid 5,000 L.E balance due for the payable created on dec 4
16- On dec 16.Mountain view company paid the other half from transaction 14
17- On dec 17. Mohamed amr withdrawal 20,000 L.E for personal use
18- On dec 18. Company paid 2,000 utilities
19- On dec 19. Company paid 50,000 advertising
20- On dec 20. Company paid 5,000 L.E balance due for the payable created on dec 4
21- On dec 21. Company bought real estate for sale for 20,000 L.E on cash
22- On dec 22. Company made the service to the customer of dec 12
23- On dec 23. Company sold the real estate bought in dec 21 for 50,000 L.E on cash
24- On dec 24. Company bought two real estates for 40,000 L.E on cash
25- On dec 25. Company sold one of the two real estates for 50,000 L.E on cash
26- On dec 26. Company took loan from the bank 300,000 L.E during 1 year
27- On dec 27. Company bought four real estates for 80,000 L.E
28- On dec 28. Company sold 3 real estates for a new compound cost 150,000 on cash
29- On dec 29. Company prepaid 50,000 for this month and the next for the bank loan
30- On dec 30. Company paid 5,000 salaries

2
Journal entries

Date Account Debit Credit

Dec 1 Cash 230,000
Capital 230,000
Dec 2 Land 30,000
Cash 30,000
Dec 3 Supplies 50,000
Cash 50,000
Dec 4 Building 50,000
Cash 30,000
Accounts payable 20,000
Dec 5 Equipment 60,000
Cash 60,000
Dec 6 Prepaid Insurance 20,000
Cash 20,000
Dec 7 Accounts receivable 5,000
Cash 8,000
revenue 13,000
Dec 8 Withdrawal cash 7,000
7,000
Dec 9 Prepaid rent 4,500
Cash 4,500
Dec 10 Cash 5,000
Accounts receivable 5,000
Dec 11 Accounts payable 10,000
Cash 10,000
Dec 12 Cash 7,000
Unearned Revenue 7,000
Dec 13 Accounts receivable 1,500
Service Revenue 1,500
Dec 14 Cash 10,000
Accounts receivable 10,000
Revenue 20,000
Dec 15 Accounts payable 5,000
Cash 5,000
Dec 16 Cash 10,000
Accounts receivable 10,000

Dec 17 Withdrawal 20,000

Cash 20,000
Dec 18 Utilities expense 2,000
Cash 2,000
Dec 19 Advertising expense Cash 50,000
50,000
Dec 20 Accounts payable 5,000
Cash 5,000

3
 Dec 21 Real-estate 20,000
Cash 20,000

Dec 22 Unearned revenue 7,000

Earned Revenue 7,000
Dec 23 Cash 50,000
Revenue 50,000
Dec 24 Real-estate 40,000
Cash 40,000
Dec 25 Cash 50,000
Revenue 50,000
Dec 26 Cash 300,000
Accounts payable 300,000
Dec 27 Real-estate 80,000
Cash 80,000
Dec 28 Cash 150,000
Revenue 150,000
Dec 29 Accounts payable 50,000
Cash 50,000
Dec 30 Salaries expense 5,000
Cash 5,000

Balance Sheet (Report form)

Vantage Balance sheet

December 31 ,2021

Assets

Cash 331,500
Land 30,000
Supplies 50,000
Building 50,000
Equipment 60,000
Prepaid insurance 20,000
Prepaid rent 4,500
Accounts receivable 1,500
Real estates 140,000

Total Assets 687,500

Liabilities and owners equity

Liabilities
Accounts payable 250,000

4
Total liabilities 250,000

Total Owners’ equity 437,500

Total liabilities and owner’s 687,500

equity