Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Mr. Zubir started a business selling sports equipment. The tions that occurred during January 2005. TTTTTT (C) FP 6 On 1 January 2005, Mr.

image text in transcribed
image text in transcribed
5. Mr. Zubir started a business selling sports equipment. The tions that occurred during January 2005. TTTTTT (C) FP 6 On 1 January 2005, Mr. Zubir started following are transactions that occurred du Particulars Date Started business with cash in hand of RM5,000 and cash at bank 2005 Dec 1 of RM20,000 Brought in motor vehicle worth RM12,000 and furniture worth RM1,000 for business use. Purchased stationeries worth RM150 by cash. Purchased sport rackets on credit of RM10,000 from Jaya Enterprise. Cash sales of RM1,800. Returned defective goods of RM500. Credit sales to Ms. Mahzam valued at RM8,000. Withdrawn RM3,000 cash from ATM to purchase computer for business use. Paid premise rental of RM700 in cash. Returns inwards worth RM300. Paid Jaya Enterprise's debts by cheque and received 10% discount. Additional capital in form of cash RM4,000. Ms. Mahzam paid her debts by cheque after deducting discount received of 10% Record the transactions in the Book of Original Entry (a special day book not required) and post the entries to the ledger. Prepare the trial balance at 31 January 2005

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services

Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau

9th Edition

1266796851, 9781266796852

More Books

Students also viewed these Accounting questions

Question

Can you see what limitations your purpose imposes on your strategy?

Answered: 1 week ago