5 Help JAC2614 Lecture Exercise 1 1. Excess Computer owns a computer repair service which started its business operation on 1 January 2009. At the end of accounting year of 2015, he had the following trial balance EXCESS COMPUTER Trial Balance as at December 31, 2015 Credit Cash Accounts Receivable Repair Parts Inventory Prepaid Rent Shop Equipment Accumulated depreciation Accounts Payable Capital Stock Retained Earnings Debit 12.100 18.000 13,000 5,000 21,000 2.100 21,000 40,000 6.000 69,100 09.100 Summarted transactions for anuary 2010 were as follows: 1 Owner invested another RM20.000 into the business 1 Ich acer F5 F6 F7 F8 F9 F10 F11 F12 % A & 7 8 9 4 5 6 7 8 8 9 LECTURE EXERCIS X Untitled documen X Lecture Exercise 1 x Th AutoCount Acade X ument/d/1NcaQRSV)-1VVOM9qLgT3VOISISWELX1N-Ylvg D3c/edit Request odit access 1 3 10 12 15 Owner invested another RM20,000 into the business. Purchased repair parts of RM3,500 on account. Collected RM8,000 of account receivables. Open up bank account, RM10,000 cash. Purchased tools of RM5,000; paying cash RM1,000 and the balance will be paid in four monthly installments starting from next month. Paid account payables by check of RM2,000. Rent for the month of January was recorded for RM1,000. Paid utilities bill online for RM500. Pald salary for RM2,000. Sales for the month of January totaled RM25,000, and cash receipts amounted to RM18,750. 17 18 20 28 31 Required: a. Prepare journal entries to record each of January transactions, b. Post the journal entries to the accounts in the 3-column ledger or T-accounts. c. Prepare a Trial Balance as of January 31, 2016. 2. Buzz Company started its business operation in the year of 2014. The followings are the transaction for the month of January: Nov 2015 1. Invested RM50,000 into the business by depositing RM40,000 into a bank account and the balance is to be held as cash 2. Paid rent for the premise, by post dated check of RM 6,000 for one year 3. Pald deposit for utilities at TNB, RM400 10. Purchased a machine, RM7,500 1096 by check and the rest on account 11. Purchased raw materials RM1.280, RM500 by check and the balance is to be paid in 30 days. IN acer 5 Help JAC2614 Lecture Exercise 1 1. Excess Computer owns a computer repair service which started its business operation on 1 January 2009. At the end of accounting year of 2015, he had the following trial balance EXCESS COMPUTER Trial Balance as at December 31, 2015 Credit Cash Accounts Receivable Repair Parts Inventory Prepaid Rent Shop Equipment Accumulated depreciation Accounts Payable Capital Stock Retained Earnings Debit 12.100 18.000 13,000 5,000 21,000 2.100 21,000 40,000 6.000 69,100 09.100 Summarted transactions for anuary 2010 were as follows: 1 Owner invested another RM20.000 into the business 1 Ich acer F5 F6 F7 F8 F9 F10 F11 F12 % A & 7 8 9 4 5 6 7 8 8 9 LECTURE EXERCIS X Untitled documen X Lecture Exercise 1 x Th AutoCount Acade X ument/d/1NcaQRSV)-1VVOM9qLgT3VOISISWELX1N-Ylvg D3c/edit Request odit access 1 3 10 12 15 Owner invested another RM20,000 into the business. Purchased repair parts of RM3,500 on account. Collected RM8,000 of account receivables. Open up bank account, RM10,000 cash. Purchased tools of RM5,000; paying cash RM1,000 and the balance will be paid in four monthly installments starting from next month. Paid account payables by check of RM2,000. Rent for the month of January was recorded for RM1,000. Paid utilities bill online for RM500. Pald salary for RM2,000. Sales for the month of January totaled RM25,000, and cash receipts amounted to RM18,750. 17 18 20 28 31 Required: a. Prepare journal entries to record each of January transactions, b. Post the journal entries to the accounts in the 3-column ledger or T-accounts. c. Prepare a Trial Balance as of January 31, 2016. 2. Buzz Company started its business operation in the year of 2014. The followings are the transaction for the month of January: Nov 2015 1. Invested RM50,000 into the business by depositing RM40,000 into a bank account and the balance is to be held as cash 2. Paid rent for the premise, by post dated check of RM 6,000 for one year 3. Pald deposit for utilities at TNB, RM400 10. Purchased a machine, RM7,500 1096 by check and the rest on account 11. Purchased raw materials RM1.280, RM500 by check and the balance is to be paid in 30 days. IN acer