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Emily began trading as Heathcliff Fashion on 19 January 2019 with a capital of RM30,000, with which she opened a bank account of RM25,000 and

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Emily began trading as Heathcliff Fashion on 19 January 2019 with a capital of RM30,000, with which she opened a bank account of RM25,000 and held cash totalling RM5,000. Her trade is selling designer clothing to companies that make films for TV and cinema release. During January 2019 the following transactions took place: 2nd Paid RM10,000 by cheque to buy furniture. 3rd Purchased for RM7,000 a selection of high quality clothing from Cathy Clothes to be sold on to customers, paying by cheque 4th Sold some of the clothing that she had bought for RM3,800 for cash. 5th Bought another RM2.100 of clothes on credit from Lockwood Fashions. 6th Banked RM4,000 of the business's cash 8th 116 7th Sold clothes on credit to Eamshaw Costumes for RM3,000. Earnshaw Costumes paid RM1,800 of the amount owed to Emily, paying by cheque. 9th Returned RM400 of damaged clothes to Lockwood Fashions. 104 Earnshaw Costumes ceased trading and Emily was told that none of the remaining amount outstanding would ever be received. Sold clothes on credit to Heights Productions for RM6,000 12th Emily paid her assistant, Nelly Dean, RM700 cash as wages for the first two weeks of January 136 Heathcliff Fashion took out a bank loan of RM6,000 to extend the shop. The money was paid into the business bank account but work on the extension had not started by the end of January Note: Closing stock of clothing inventory as on 31 January is RM900. Required: (a) Record the above transactions in General Journal Form. Explanation is not required. (10 marks) (6) Record the above transactions in "T" ledger accounts (8 marks) (c) Balance off the ledger accounts and extract a trial balance as on 31/1/2019. (4 marks) (d) Prepare Statement of Profit and Loss for the month of January 2019. (4 marks)

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