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How to Answer Question A,B,C Fuzzy Trading has the following transactions for the month of August 2021. 2021 August 1 2 5 7 9 10
How to Answer Question A,B,C
Fuzzy Trading has the following transactions for the month of August 2021. 2021 August 1 2 5 7 9 10 12 13 15 17 18 21 24 Commenced business with RM2000 in the bank, ok Purchased goods on credit from the following: Yoong RM75. Wong RM35 and Mei RM55. ok Cash sales RM78. Paid wages in cash RM13. Sold goods on credit to: Erwin RM40. John RM42 and Shen RM68. Bought goods for cash RM56. Bought goods on credit from: Wong RM59 and Mei RM89. Paid wages in cash RM13. Sold goods on credit to: John RM32 and Shen RM23. Purchased furniture from Lin Furnishing RM50 on credit. Paid Wong by cheque RM84. Returned goods to Mei RM20. Paid Lin Furnishing a cheque for RM50. Shen settled his account by cheque RM91. Goods returned to Yoong RM25. Steve lent the business RM100 by cash. Purchased a motor vehicle paying by cheque RM400. 27 30 31 Required: (a) Prepare a Prime Book Entry for the above transactions (10 marks) (b) Record the transactions in Ledgers and Balance-off the ledgers. (15 marks) (c) Extract a trial balance Step by Step Solution
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