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1 (30 MARKS) Arfan Automobile Enterprise began operation on 1 June 2020 with RM20,000 cash as capital. The following are the transactions that took place
1 (30 MARKS) Arfan Automobile Enterprise began operation on 1 June 2020 with RM20,000 cash as capital. The following are the transactions that took place for the first month of business: June 2 3 12 20 27 4682222 Required: Deposited RM10,000 cash into the bank. Brought equipment for RM8,200 cash. Brought auto parts and supplies from Eric Trading on credit RM4,700. Performed services on cars for RM1,500 cash. Paid rental of garage by cheque RM500. Paid wages in cash RM800. Paid electricity in cash RM250. Paid Eric Trading RM1,500 by cheque. Performed services on cars for RM7,500 cash. i. Record the above transaction in the general journal ii. (12 marks) Post the journal entries to the relevant accounts in the ledger and balance off all the accounts. iii. Prepare the Trial Balance as at 30 June 2020 (12 marks) (6 marks)
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