Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Photos - Q3 (1).png _ .. See all photos + Add to t Edit & Create UP QUESTION 3 (28 MARKS) Dato Vivida established Cikbi

image text in transcribed

Photos - Q3 (1).png _ .. See all photos + Add to t Edit & Create UP QUESTION 3 (28 MARKS) Dato Vivida established Cikbi Realty, firm that offers property business and investment consulting services. The accounts executive completed the following transactions during the month of March 2020: Date March 1 4 6 Description Dato Vivida transferred cash from a personal bank account to an account to be used for the business, RM30,000. Paid rent on office and equipment for the month, RM3,250. Purchased furniture on account, RM2,150. Paid creditor on account, RM875. Borrowed from ABC Bank, RM 25,000 Earned sales commissions, receiving cash RM14, 440. Paid automobile expenses for month, RM1,580, and miscellaneous expenses, RM650 8 14 16 20 24 Paid office salaries, RM3,000 28 Withdrew cash for personal use, RM2,500. REQUIRED: (a) Prepare the relevant journal entries to record the above transactions. Omit the explanations. (10 Marks) (b) Post all journal entries in (a) to the ledger (balance column ledger accounts are required). (10.5 Marks) (c) Prepare unadjusted trial balance as at March 31 2020. (7.5 Marks) Type here to search )) 1:41 AM 11/20/2020 Photos - Q3 (1).png _ .. See all photos + Add to t Edit & Create UP QUESTION 3 (28 MARKS) Dato Vivida established Cikbi Realty, firm that offers property business and investment consulting services. The accounts executive completed the following transactions during the month of March 2020: Date March 1 4 6 Description Dato Vivida transferred cash from a personal bank account to an account to be used for the business, RM30,000. Paid rent on office and equipment for the month, RM3,250. Purchased furniture on account, RM2,150. Paid creditor on account, RM875. Borrowed from ABC Bank, RM 25,000 Earned sales commissions, receiving cash RM14, 440. Paid automobile expenses for month, RM1,580, and miscellaneous expenses, RM650 8 14 16 20 24 Paid office salaries, RM3,000 28 Withdrew cash for personal use, RM2,500. REQUIRED: (a) Prepare the relevant journal entries to record the above transactions. Omit the explanations. (10 Marks) (b) Post all journal entries in (a) to the ledger (balance column ledger accounts are required). (10.5 Marks) (c) Prepare unadjusted trial balance as at March 31 2020. (7.5 Marks) Type here to search )) 1:41 AM 11/20/2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial and Managerial Accounting Using Excel for Success

Authors: James Reeve, Carl S. Warren, Jonathan Duchac

1st edition

978-1111993979

Students also viewed these Finance questions

Question

What are the objectives of Human resource planning ?

Answered: 1 week ago

Question

Explain the process of Human Resource Planning.

Answered: 1 week ago