Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7 0 3 . Zalina is the owner of a sole proprietorship, Zalina Enterprise. The following is th accounting record as of 1 August 2

70
3. Zalina is the owner of a sole proprietorship, Zalina Enterprise. The following is th accounting record as of 1 August 204 :
The following transactions took place during August 204 :
Aug. 2 Purchased a delivery van for RM5,000 on credit from Wang Auto Bhd
3 Purchased goods on credit from Shimi and Arina, RM600 and RM55; respectively
6 Made cash sales of RM330 to Hazim
7 Paid RM3O cash to Hazim for goods returned
10 Sent debit notes to Arina RM50 and Nana RM40 for goods returned
11 Sold goods on credit to Ali and Baba, worth RM780 and RM45 respectively, after allowing 2% of trade discount
13 Sent credit note to Ali for RM80 for goods returned
16 Paid RM200 cash for transport charges to transport goods to Ali r ?2 Baba
17 Zalina took RM200 cash from the business to repair the busine delivery van
20 Received a cheque from Baba as full settlement of his account a3 allowing him a cash discount of 5%
22 Cash purchases of RM250 from Leela Trading
22 Zalina took goods RM100 from the business for her personal use
25 Received a cheque for RM700 being rental received from the tenall
28 Paid RM180 cash to Rosli
30 Paid shop assistant's salary of RM400 in cash
Record the above transactions in the appropriate accounts.
image text in transcribed

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

Financial Accounting An Integrated Statements Approach

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

2nd Edition

324312113, 978-0324312119

Students also viewed these Accounting questions