57 Credit (RM) 4,000 Wangi Company Ltd Trial balance as at 31 December 2013 Account Debit (RM) Cash in hand 34,400 Cash in bank 42,000 Inventory (1 January 2013) 38.000 Debtors (accounts receivable) 59,000 Prepaid insurance 18,600 Land 120,000 Buildings 90,000 Accumulated depreciation - Buildings Equipment 110,000 Accumulated depreciation - Equipment Creditors (accounts payable) Unearned revenue Accrued mortgage Ordinary shares Retained earnings Dividends 15,500 Sales Purchases 103,000 Salary expense 64,000 Repair expense 15,500 Advertising expense 10,400 Utility expense 15,900 Property tax 10,000 Interest expense 5,500 Total 751,800 Required 26,200 24,600 2,700 50,000 300,000 49,700 294,600 751,800 5:22 Question 4 70% Enter the following transactions in general journal for the month of July 2014: July 1 Started in business with capital in cash of RM800 and RM2,200 in the bank. July 2 Bought goods on credit from the following persons: J Ward RM610; P Green RM214; M Taylor RM174; S Gemmill RM345; P Tone RM542. July 4 Sold goods on credit to: J Sharpe RM340; G Boycott RM720; F Titmus RM1,152. July 6 Paid rent by cash RM180. July 9 J Sharpe paid us his account by cheque RM340. July 10 F Titmus paid us RM1,000 by cheque. July 12 We paid the following by cheque: M Taylor RM174; J Ward RM610. July 15 Paid carriage by cash RM38. July 18 Bought goods on credit from P Green RM291;S Gemmill RM940. July 21 Sold goods on credit to G Boycott RM810. July 31 Paid rent by cheque RM230