Mr Kamil, the owner of Mudah Kira Sdn Bhd has started her interior design consultant business...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6656d6bc90c5f_1006656d6bc21ac6.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6656d6bd6f806_1006656d6bce5ad7.jpg)
Transcribed Image Text:
Mr Kamil, the owner of Mudah Kira Sdn Bhd has started her interior design consultant business on 1 April 2022. Her business premise is located at Kota Bharu, Kelantan. During the first month of operation, a number of transactions occurred as the following. Hence, she had appointed you as an account clerk to help her with all the accounting records and accounts. APRIL TRANSACTIONS 1 Started business and invested cash RM100,000. 2 Paid RM3,000 cash for office rent for the month of April. 5 10 10 Purchased office equipment RM20,000 from Bilal Supplies and paid half the amount by cash and the other half is owing. Opened a business current account at RHB and banked in RM50,000 cash. 14 Rendered consultant service to clients and received RM10,000 cash. 15 Mr Kamil withdrew RM2,000 cash for personal use. 18 Completed interior design service for a client, Ahmad RM8,000 on credit. 20 Paid insurance premium RM2,500 by cheque to Takaful Malaysia. 21 Completed consultation for a client, Mariam RM 5,000 on credit. Received RM4,000 cash from Ahmad as partial payment for the legal service. 23 25 Rendered legal service to client, Anisah RM4,000 on credit. 28 Paid RM500 for utility expenses and RM800 for advertising expenses. 28 Received full payment from Mariam. 29 Paid salary RM2,500 by cheque. 30 Received a cheque from Ahmad for the outstanding balance. Required: a) Prepare journal entries to record these transactions. (16 marks) b) Prepare a ledger and balance off the accounts for April transactions. (7 marks) c) Prepare a trial balance as at 30 April 2022. (7 marks) 2 Mr Kamil, the owner of Mudah Kira Sdn Bhd has started her interior design consultant business on 1 April 2022. Her business premise is located at Kota Bharu, Kelantan. During the first month of operation, a number of transactions occurred as the following. Hence, she had appointed you as an account clerk to help her with all the accounting records and accounts. APRIL TRANSACTIONS 1 Started business and invested cash RM100,000. 2 Paid RM3,000 cash for office rent for the month of April. 5 10 10 Purchased office equipment RM20,000 from Bilal Supplies and paid half the amount by cash and the other half is owing. Opened a business current account at RHB and banked in RM50,000 cash. 14 Rendered consultant service to clients and received RM10,000 cash. 15 Mr Kamil withdrew RM2,000 cash for personal use. 18 Completed interior design service for a client, Ahmad RM8,000 on credit. 20 Paid insurance premium RM2,500 by cheque to Takaful Malaysia. 21 Completed consultation for a client, Mariam RM 5,000 on credit. Received RM4,000 cash from Ahmad as partial payment for the legal service. 23 25 Rendered legal service to client, Anisah RM4,000 on credit. 28 Paid RM500 for utility expenses and RM800 for advertising expenses. 28 Received full payment from Mariam. 29 Paid salary RM2,500 by cheque. 30 Received a cheque from Ahmad for the outstanding balance. Required: a) Prepare journal entries to record these transactions. (16 marks) b) Prepare a ledger and balance off the accounts for April transactions. (7 marks) c) Prepare a trial balance as at 30 April 2022. (7 marks) 2
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
From past experience, an airline has found the luggage weight for individual air travelers on its trans-Atlantic route to have a mean of 80 pounds and a standard deviation of 20 pounds. The plane is...
-
The equity of Pauls business belongs to him because he is the sole owner of the business. Can you explain how the figure for equity by Thursday evening has arisen? You will need to look back at the...
-
Effective strategic leadership means maintaining a superior alignment between an organization and its environment. In what ways did Anderson focus on and achieve this goal at Best Buy?
-
The ledger of Novak Corp. at December 31, 2022, after the books have been closed, contains the following stockholders' equity accounts. Preferred Stock (11,000 shares issued) Common Stock (300,000...
-
Polk Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2020...
-
Ohio vs. Roberts, 448 U.S. 56 ( 1980). What were the facts, related to this issue, that the Court dealt with? What was the Court's ruling in reference to the availability of the key witness? Is the...
-
A. Prove the identity (p or q) = p and q using a truth table. B.Prove the identity p or (q and r) = (p or q) and (p or r) using a truth table
-
Read this article about what professionals should be doing on LinkedIn and complete the worksheet by noting the reasons why the various tasks are important. This article is about lawyers, but the...
-
What is the output of the following code, N=7 S="Wireline Drilling Testing Artificial Lift" Do Until (N <3) S=Left(S,N) & Right (S,N) N=N-2 Loop Labell.Text=S
-
(1) Explain how you will determine the domain and the range. [15] Given: {(3,2), (2,1), (1,0), (2,-1), (3, -2)} Equation Editor AAT BI US x Styles Font Size
-
11. Draw a graph with five vertices that is connected and draw a graph with five vertices that is not connected.
-
A university teacher, active in teaching, administration and research, wishes to obtain further finance from a government research agency. The new research project will build on the findings of his...
-
Jayhawker Enterprises has four divisions that produce toasters, washing machines, electric carving knives and tumble driers respectively. They share the same brand name, and the company's reputation...
-
In many corporations, managers are asked not to pursue blindly their quantitative goals, but to 'do what's best for the company' in taking their decision. Is this a motivational contract? If not, why...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App