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introduction to accounting question Question 3 Balances of accounts for Ketupat Palas Enterprise on 1 June 2020 are as follows: Cash in hand Cash at
introduction to accounting question
Question 3 Balances of accounts for Ketupat Palas Enterprise on 1 June 2020 are as follows: Cash in hand Cash at bank Computers Rendang Sdn. Bhd. Lontong Trading Bank loan Capital RM 7,800 38,000 5,800 4,200 5,100 35,000 15,700 The following transactions took place in the month of June: Date Transactions 1 Purchased goods on credit from Lontong Trading RM4,700. 4 Sold RM1,800 worth of goods for cash. 6 Paid office rental through cheque ampunted to RM2,7000. 8 Sold goods on credit to Rendang Sdn. Bhd. net worth of RM8,000 after discount allowed of RM800. 15 The owner tooks cash amounted to RM3,000 for his personal use. 18 Rendang Sdn. Bhd. returned goods worth RM500 due to incorrect specification. 20 Purchased goods worth RM2,000 by cash. 22 Returned RM450 worth of goods to Lontong Trading. 26 Purchased a computer for RM5,800 from Orange Computer. Issued cheque worth RM5,000 for the computer and the balance will be paid by cash. 28 Sold goods for cash RM2,000. 30 Paid salary amounting to RM5,000 and sundry expenses of RM700 by cheque. 30 Paid RM400 cash for telephone bills. 30 Received payment from Rendang Sdn. Bhd. worth RM5,000. Required: a) Record the above transactions in the necessary ledger accounts. Close and balance all the ledger. (20 marks) b) Transfer the balance of your ledger accounts in (a) into the Trial Balance as at 30 June 2020 for Ketupat Palas Enterprise. (10 marks) (Total: 30 Marks)Step by Step Solution
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