DBA 108 AND DCA Introduction To Accounting Assignment 07 December 2020 Question Mr Augustine started his business on I May 2020 with the following assets and babilities: May 1 Assets: Premises RM9000, Motor Van RM6000, Fixtures RM5000, and Inventory RM3000. His Debtors were C Chan RM1800 and M Naidu RM1900, Cash at bank RM4600, Cash in hand RM850. Liabilities: His Creditors were B Bala RM1700, V Rajah RM2500. Transactions for the Month of May were: May 1 Paid rent by cheque RM1500, Inventory bought on credit from B Bala RM2500, C Han RM1500, H Gana RM3000, N Lam RM1900. Sales on credit to O Kana RM6500, B Ali RM7800, J Sunny RM4800, D Naga RM8400, B Green RM1800, M Naidu RM4000. Motor expenses paid in cash RM300. Cash drawings by Mr Augustine RM200. Goods sold on credit to M Naidu RM2700, P Lulu RM7500. Goods returned to Augustine by O Kana RM1500, D Naga RM1800. Bought another motor van on credit from Chang Motors Ltd. for RM3500. The following paid Augustine their accounts by cheque less 5% cash discount: M Naidu, O Kana and J Sunny. Goods returned by Augustine to N Lam RM800. Goods bought on credit from J Jam RM2800, T Badam RM1900. 16 19 22 24 27 30 Paid Rates by Cheque RM700. 31 Paid Chang Motors Bhd. by cheque RM3500. The following accounts were settled by Augustine by cheque less 5% cash discount: B Bala, J Jam, and N Lam. Salaries paid by cheque RM6500. ecord the above transactions in respective Journals, and also make records in the ash Book and post them into the respective ledgers. Balance all the accounts and ash Book and prepare the Trial Balance for Mr Augustine at 31 May 2020. End of Question- Scanned with CamScanner