EBAB 123 Interim Sem 2020/2021 1 4 6 Question 6 Chan Tic started the business on 1st Sept 2019 with the following: Cash at bank RM7,000; Stock RM1,500; Premise RM25,000 and mortgage loan RM30,000. During Sept 2019, the following receipts and payment occurred: (Note: All payments are made by cheque and all receipts are banked at the end of each month) Bought goods on credit from: Camellia RM1,200, Mazura RM800 3 Sold goods for cash RM200. Paid RM2,000 for Office Equipment. 5 Made return purchased to Camellia RM83 Sold goods of RM1,500 to Champak on credit (2/10, n/45) 7 Paid RM200 for a newspaper advertisement. Bought goods on credit from Mazura RM6,000 The following returns of goods sold were made by Champak RM50 12 Sold goods of RM6,000 to Husna on credit (5/10, n/40) 14 Purchased goods with a cheque for RM4,000. 15 Made cash purchases of RM3,000. 18 Received RM2,000 worth of cheques from sales made 19 Husna made returns goods to us RM55 20 All debtors to date settled their account in full with cheques. 22 Made cash sales of RM2,000. 23 Purchased furniture of RM5,500 on credit from Jade Trading 24 Paid Camellia by cheque and obtained 2% discount from her. 31 Owner took RM500 cash for own use. 8 9 You are required: a) Show the appropriate journals to record the above transaction b) Show the ledger entry and balance of all the accounts c) Prepare a trial balance at 30 September 2019. EBAB 123 Interim Sem 2020/2021 1 4 6 Question 6 Chan Tic started the business on 1st Sept 2019 with the following: Cash at bank RM7,000; Stock RM1,500; Premise RM25,000 and mortgage loan RM30,000. During Sept 2019, the following receipts and payment occurred: (Note: All payments are made by cheque and all receipts are banked at the end of each month) Bought goods on credit from: Camellia RM1,200, Mazura RM800 3 Sold goods for cash RM200. Paid RM2,000 for Office Equipment. 5 Made return purchased to Camellia RM83 Sold goods of RM1,500 to Champak on credit (2/10, n/45) 7 Paid RM200 for a newspaper advertisement. Bought goods on credit from Mazura RM6,000 The following returns of goods sold were made by Champak RM50 12 Sold goods of RM6,000 to Husna on credit (5/10, n/40) 14 Purchased goods with a cheque for RM4,000. 15 Made cash purchases of RM3,000. 18 Received RM2,000 worth of cheques from sales made 19 Husna made returns goods to us RM55 20 All debtors to date settled their account in full with cheques. 22 Made cash sales of RM2,000. 23 Purchased furniture of RM5,500 on credit from Jade Trading 24 Paid Camellia by cheque and obtained 2% discount from her. 31 Owner took RM500 cash for own use. 8 9 You are required: a) Show the appropriate journals to record the above transaction b) Show the ledger entry and balance of all the accounts c) Prepare a trial balance at 30 September 2019
