Jeddah University Acct spreadsheets

Part 1Please visit the JSC or Exchange website, and select the annual report of a company. It is
possible to use the following links and choose a company from one of the following Arab stock
exchanges:
Stock Exchange Name / Website
Amman Stock Exchange
https://www.ase.com.jo/ar
Palestine Exchange
https://web.pex.ps
Muscat Stock Exchange
https://www.msx.om/default.aspx
Saudi Stock Exchange
https://www.saudiexchange.sa
Abu Dhabi Securities Exchange
https://www.adx.ae/arabic/Pages/default.aspx
Damascus Securities Exchange
http://www.dse.gov.sy
The following questions were answered:
● Please share the name of the company and briefly describe the nature of its business.
● Explain the depreciation method currently used by the company. If the company plans to
change its depreciation method, which method would you recommend? Provide reasons for
your recommendation.
● Identify and explain the inventory valuation methods used by the company. How does this
method affect the cost of goods sold?
● Specify a description of the three long-term asset items and current liabilities from the
company’s balance sheet.
● Explain the benefits of using the account information system for the selected company. Share
the career path you want in the accounting information system AIS within this company and
explain how your roles will contribute to the success of the company.
Discussion Requirements:
● Please be sure to include the necessary details and information for the company for a
thorough analysis.
● Your discussion should be at least 200 words long and not more than 750 words. Please insert
the word count. Following the APA standard for documenting references and sources for
paragraphs and text quotations, whether from the textbook or any other sources.
Part 2
Review and set up any book entries that are necessary for the following scenarios:
Scenario 1:
● On July 1, Wellness Gym acquired $20,000 in inventory from Equipment Store Ltd., via
fiduciary management. Equipment Shop Co., Ltd. provides a 4% credit discount if payment is
completed within 10 days.
● On July 3, Wellness Gym returned a damaged $5,000 inventory.
● On July 9, Wellness Gym made full payment to Equipment Store Co., Ltd.
Scenario 2:
● On August 1, Wellness Gym received a down payment of $3,000 for a three-month gym
membership from a customer.
● On August 30, Wellness Gym set $1,000 in down payment as revenue for services completed
during the month.
● On September 30, Wellness Gym set an additional $1,000 in advance payment as revenue for
services completed in the second month.
● By the end of the three-month period, Wellness Gym identified all of the $3,000 down
payment as income.
Scenario 3:
● Mindset has reached out to Wellness Gym to arrange a basic health session for its employees.
On October 5, Wellness Gym and Mind Set entered into a $4,000 health program contract, as a
credit. The contract states that a 2% discount will be given if payment is made within 10 days.
● On October 28, Wellness Gym received the full payment from Mindset.
Scenario 4:
On November 1, Wellness Gym secured a one-year loan of $100,000 from a bank at an annual
interest rate of 14% for the purpose of expanding the gym. Wellness-Gym records interest
accumulation every two months, at the end of every two months.
Delivery Instructions:
1. Record the necessary journal entry in the record template.
2. Provide an explanation of the recorded transactions for each scenario. Your explanation
should include the type of account in question, the reason for the debit and credit. Your
explanation should be between 500-700 words long.
3. Provide a completed spreadsheet document and your answers to questions
4. You will use APA documentation for reference citations and any sources used in the article.