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COURSEWORK TASKS QUESTION I Qis Teena started a haircutting business called Elegant. The following events occurred during its first month. June 1 Qis Teena invested
COURSEWORK TASKS QUESTION I Qis Teena started a haircutting business called Elegant. The following events occurred during its first month. June 1 Qis Teena invested RM3,000 cash and RM15,000 of equipment in Elegant 2 Elegant paid RM600 cash for furniture for the shop 3 4. 15 16 17 18 30 30 30 Elegant paid RM500 cash to rent space in a strip mall for June Elegant purchased RM1,200 of equipment on credit for the shop Elegant opened for business on June 5. Cash received from haircutting services in the first week and a half of business was RM825 Elegant provided RM100 of haircutting services on account Elegant received a RM100 check for services previously rendered on account Elegant paid RM125 to an assistant for hours worked for the grand opening Cash received from services provided during the second half of June was RM930 Elegant paid RM400 cash toward the account payable entered into on June 4 Qis Teena made a RM900 cash withdrawal from the company for personal use Required: i. Record related journal entries (11.5 Marks) ii. Post the journal entries to ledger accounts (12.5 Marks) Prepare a trial balance as at 30 June 2022 (6.5 Marks)
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