Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mr Tan is the owner of Master IQ Bookstore Sdn Bhd. The transactions for the month of January 2020 are as follow: Date Jan 1

image text in transcribed

Mr Tan is the owner of Master IQ Bookstore Sdn Bhd. The transactions for the month of January 2020 are as follow: Date Jan 1 3 5 7 Transactions Mr Tan contributed RM100,000 cash into the business. Purchased good from Jenny RM20,000 on credit. Purchased machinery RM45,000 from Singer Sdn Bhd by cheque and received 5% trade discount Sold goods on credit to Kenneth for RM25,000. Paid water bill RM150 by cash. Returned goods RM5,000 to Jenny. Purchased stationary RM50 by cash. Owner withdrew RM300 from bank account for his personal use. Received commission RM100 from Brian Trading. Paid all debt by cheque to Jenny and received 5% cash discount. 9 13 15 17 21 25 REQUIRED: (a) Journalize (double entry) the above transactions of IQ Bookstore Sdn Bhd for the month of January 2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Outsourcing Dilemma Whats Best For Internal Auditing

Authors: Larry E. Rittenberg, Institute Of Internal Auditors Research Foundation, Lee A. Campbell

1st Edition

0894133845, 978-0894133848

More Books

Students also viewed these Accounting questions