Question
Mr Zaman, a watch dealer, set up a shop by the name Syarikat Zaman Sdn Bhd on 1 March 2021. He brought in cash RM50,000
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Mr Zaman, a watch dealer, set up a shop by the name Syarikat Zaman Sdn Bhd on 1 March 2021. He brought in cash RM50,000 and used car, valued at RM12,000 for business use.
The following financial transactions occurred in the month of March 2021.
March 1 | Opened a current account at Maybank and banked in office cash RM45,000 |
3 | Paid RM800 being rental of the shop by cheque. Bought shop fittings worth RM5,600 from Alitalia Furnishing Centre; paid by cheque. |
4 | Invoice received from : Zenith Bhd. List price RM8,200, trade discount 2% Seiko Bhd. List price RM9,800, trade discount 1% |
6 | Cash sales of RM750, paid to bank |
10 | Received RM15 in cash from the customer for watch repairs |
13 | Received a credit note from Zenith Bhd for a goods returned; listed price RM600. |
17 | Credit sale worth RM2,400 to Azhar Rahman |
19 | Purchased a van for RM17,500 on credit from Sunny Used Car Sdn Bhd and paid RM1,200 by cheque for installing air-condition unit in the van |
22 | The owner took a watch at a cost of RM150 and give it as a present to his son. |
24 | Received a cheque from Azhar Rahman as settlement of his account after deducting 3% discount. |
27 | Paid RM130 in cash for office expenses. |
REQUIRED:
Journalise the above transactions.
(20 marks)
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