Journal entries

 

Assignment Question(s): (5 Marks)
Q1- Provide an example of each title here and then record the journal entries (2 Marks).
Following is the first given answer.
1-Purchasing Equipment for cash
Given answer:
ABC company purchased equipment for SAR20,000 cash .
Equipment 20,000
Cash 20,000

2-Issuing common stocks receiving cash.
3-Providing service receiving cash.
4-Purchasing supplies on credit.
5-Borrowing money from a bank.
6-Paying employees their salaries.

Q2- What is the accrual basis of accounting? When should revenue and expense be recognized in the accrual basis? Provide an example. (1 Mark).

Q3- On your own words, explain the purpose and the importance of the income statement, and prepare the income statement for ABC company based on the following information taken from the trial balance in 2019 (2 Marks)
Consulting revenue SAR70,000
Rental revenue 30,000
Supplies expense 5,000
Rent expense 20,000
Wages expense 30,000

 

 

Sample Solution

The most common three methods used to prepare the nanoparticles are: (1) dispersion of preformed polymers; (2) direct polymerization of monomers using classical polymerization reactions; and (3) ionic gelation or coacervation of hydrophilic polymers. However, other methods like supercritical fluid technology [140] and particle replication in non-wetting templates (PRINT) [141] can be also used to prepare nanoparticles.
Polymeric nanoparticles (PNPs) can be prepared from preformed polymers through several methods such as solvent evaporation, salting-out, dialysis and supercritical fluid technology which involving the rapid expansion of a supercritical solution or rapid expansion of a supercritical solution into a liquid solvent. In contrast, PNPs can be directly synthesized through the polymerization of monomers using a variety of polymerization techniques like mini-emulsion, micro-emulsion, surfactant-free emulsion and interfacial polymerization.

The choice of preparation method is made on the basis of a number of factors such as the type of polymeric systems, the area of application, size requirement, and the drug to be loaded. Since, method of preparation mainly affect the properties of produced nanoparticles, it is highly advantageous to have preparation techniques at hand to get PNPs with the required properties for a particular application.

The term nanoprecipitation refers to a quite simple processing method for the fabrication of polymeric nanoparticles. The level of interest in nanoprecipitation waned for some decades, and the method regained recognition in the 50’s as a means of preparing colloids for stabilizing pigments [142], as well as industrially important components in paints, lacquers, and other coatings [142], While it had already been reported at least as early as the 1940’s as a way for isolation of purified analytical samples of synthetic polymers , nanoprecipitation regained a heightened level of patent interest in the 1950’s and 60’s this time as a cost effective method for purifying synthetic polyolefins [142].
In the late 80’s and early 90’s, Fessi et al.,1989 [143] patented the nanoprecipitation method as a procedure for the preparation of eligible colloidal systems of a polymeric substance in the form of

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