Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

AutoSave Off OBAVE Class test - Word Search (Alt+Q) Akashah Fitri Bin Mohd Imran Amin AF File Home Insert Design Layout References Mailings Review View

image text in transcribed

AutoSave Off OBAVE Class test - Word Search (Alt+Q) Akashah Fitri Bin Mohd Imran Amin AF File Home Insert Design Layout References Mailings Review View Help Acrobat PDFelement Share Comments X Cut Times New Roma 12 A Aar Po E > TC AL 1 LE Copy . 11 No Spac... Heading 1 Heading 2 Find Sc Replace W Select Paste B I U ab Dictate x? x ADA E 1 Normal Title Editor Create and Share Request Adobe PDF Signatures Adobe Acrobat Reuse Files Format Painter Clipboard Font Paragraph Styles Editing Voice Editor Reuse Files AR Rahman is a sole proprietor of Rahman for Music, a business that provides Musical Instruments in Klang Valley. He started his business with an initial capital of RM100,000 cash at bank and a building worth RM150,000. During the first month of its operation, the company engaged in following transaction: Date Transaction Jan 2 The company owner AR Rahman applied for a loan worth RM50,000 in Public Bank Berhad to purchase some unique music instruments. But he only received loan worth RM45000 and it was bank in to his account. Jan 3 The company owner AR Rahman bought some guitar, flute, piano and cello worth RM15,000. Jan 4 The company owner AR Rahman hired 3 staffs to operate his business. He decided to give them RM2,000 salary for each staff at the end of every month. Jan 5 Two customers came to buy 2 flutes. Each costs RM800 and they paid immediately. Jan 7 A customer who called as Ms. Rose came to buy 2 grand piano worth RM9,500 each and 3 bamboo flutes worth RM150 each. She only afford to pay RM8,000 and the balance she promised to pay within 30 days. Thus, the owner AR Rahman decided to give 5% discount if Ms. Rose pay the balance amount within 10 days. Jan 9 The company owner AR Rahman bought some violin and xylophone worth RM10,000 on credit from Yuvan. Yuvan decided to give 2% discount if the company owner AR Rahman pays within 15 days. Jan 10 Sold 3 cellos worth RM200 each and 3 drums worth RM450 each to Mr. Harish and he paid immediately the payment. Jan 11 Ms. Rose returned 2 bamboo flutes due do damage parts. Jan 16 Ms. Rose came to AR Rahman shop and settled the amount due. Jan 18 The Rahman for music company returned some xylophone worth RM550 due to damaged mallets. Jan 24 The company owner AR Rahman settled the amount due to Yuvan. Jan 29 The company owner AR Rahman took out cash worth RM1200 for his personal urgent purpose. Jan 30 The company owner AR Rahman paid the Utilities bill worth RM850 Jan 31 The company owner AR Rahman paid his 3 staffs the first month salary by cheque. *All receipts and payments made through bank account only. Requirement: a) Post the transaction to the relevant ledger. b) Prepare trial balance. Page 1 of 1 397 words mo English (United Kingdom) 2. Accessibilitr Good to an Focus 3 A 12

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_2

Step: 3

blur-text-image_3

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

Principles Of Financial Accounting (Chapters 1-17)

Authors: John Wild

24th Edition

1260158608, 9781260158601

More Books

Students also viewed these Accounting questions

Question

List the major prohibitions of the Canadian Human Rights Act .

Answered: 1 week ago