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Please answer the question Prepare a Balance Sheet on 31st Jan 2020 QUESTION 1 Mr. Irfan opened a gold shop named Kedai Emas Ria. This

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QUESTION 1 Mr. Irfan opened a gold shop named Kedai Emas Ria. This store started operating on 1st Jan 2020. He kept all the transactions as follows: 1-Jan-20 Starting a business with cash of RM180,000 3-Jan-20 Deposit RM150,000 into the current account of Malayan Banking Bhd 9-Jan-20 Buy a van priced at RM58,200 on credit from Auto Company Sdn Bhd and the monthly payment is RM693.00 paid on the 30th of each month in cash. 10-Jan-20 Purchase items for supplies from the Gold Bird Company worth RM9,000 in cash. 10-Jan-20 Buy furniture worth RM7,000 in cash. 11-Jan-20 Buy a personal computer priced at RM3,000 for store use in cash. 11-Jan-20 Purchase goods for supplies from Han Seng Company worth RM 50,000 on credit 12-Jan-20 The renovation of the shop is worth RM46,000 and has paid RM20,000 to Syk Kayu Kayan using a check and the rest will be paid next month 12-Jan-20 Purchased supplies from Padi Emas Enterprise for RM 30,000 in cash and paid by check 13-Jan-20 Buy from Unggul Sdn Bhdof RM30,000 in cash using the check and the rest will be paid next month amounting to RM20,000. The goods are for sale. 14-Jan-20 Electricity deposit of RM300.00 and RM200 phone call are paid in cash. 15-Jan-20 The owner took RM2,000 for his own use. 16-Jan-20 Pay premium insurance in cash of RM2,000 16-Jan-20 Sales on the first day of RM5,000. 17-Jan-20 Pay the promotional cost of RM3,000 in cash. 17-Jan-20 Sales collection of RM 4,000 18-Jan-20 Sales collection of RM 2,000 18-Jan-20 Selling goods to Perdana Sdn Bhd worth RM500 on credit 18-Jan-20 Deposit cash into the bank of RM10,000. 19-Jan-20 Sales collection of RM3,000 20-Jan-20 Collection from sales of RM1,400 21-Jan-20 Selling goods to Sakti Sdn Bhd worth RM300 on credit 21-Jan-20 Collection from sales of RM2,300 21-Jan-20 22-Jan-20 22-Jan-20 23-Jan-20 23-Jan-20 24-Jan-20 24-Jan-20 25-Jan-20 25-Jan-20 25-Jan-20 25-Jan-20 26-Jan-20 26-Jan-20 26-Jan-20 26-Jan-20 27-Jan-20 27-Jan-20 Deposit cash into the bank of RM10,000. Collection from daily sales of RM3,100 Receive a check from Perdana Sdn Bhd of RM500 Explain the telephone bill of RM56, water bill of RM20, electricity bill of RM235 Collection from daily sales of RM3,200 Pay a monthly salary of RM1,000, EPF RM100, SOCSO RM 20. Collection from daily sales of RM2,800 Settle RM1,500 shop rent by check. Pay to Han Seng Company with a check of RM 20,000.00 Collection from daily sales of RM2,780 Deposit cash into the bank of RM10,000. Sending goods to Perdana Sdn Bhd worth RM300 in debt. Collection from daily sales of RM2,500 Buy items for stock on credit from Syarikat Ali Ahmad worth RM12,000 Buying goods in cash from wholesalers of RM5,100 is paid by check. Collection from daily sales of RM3,000 Sending back goods purchased from Ali Ahmad Company for RM2350 due to damage. Sakti Sdn Bhd pays the outstanding debt of RM300 Collection from daily sales of RM3,000 Purchase additional furniture for the store for RM2,500 in cash. Deposit cash into the bank of RM4,000 Collection from daily sales of RM3,500 Collection from daily sales of RM4,000 Collection from daily sales of RM4,500 Deposit cash into the bank of RM10,000 28-Jan-20 28-Jan-20 28-Jan-20 28-Jan-20 29-Jan-20 30-Jan-20 31-Jan-20 31-Jan-20 Additional information 1. The final supply balance is worth RM123,042 2. Depreciation rates for assets are: - a. Vehicles 20% per annum b. Office equipment & furniture20% per annum c. Computers 20% per year d. Machine 20% per annum Therefore you are required to help him prepare: - 1. Journal entries for Jan 2020 transactions 2. Transfer the journal entries to the relevant general foyer and subsidiary ledger. 3. Prepare Trial Balance on 31st Jan 2020 4. Prepare Income Statement for Ria Gold Shop ending 31st Jan 2020 5. Prepare Balance Sheet or Balance Sheet by 31st Jan 2020 (10 marks) QUESTION 1 Mr. Irfan opened a gold shop named Kedai Emas Ria. This store started operating on 1st Jan 2020. He kept all the transactions as follows: 1-Jan-20 Starting a business with cash of RM180,000 3-Jan-20 Deposit RM150,000 into the current account of Malayan Banking Bhd 9-Jan-20 Buy a van priced at RM58,200 on credit from Auto Company Sdn Bhd and the monthly payment is RM693.00 paid on the 30th of each month in cash. 10-Jan-20 Purchase items for supplies from the Gold Bird Company worth RM9,000 in cash. 10-Jan-20 Buy furniture worth RM7,000 in cash. 11-Jan-20 Buy a personal computer priced at RM3,000 for store use in cash. 11-Jan-20 Purchase goods for supplies from Han Seng Company worth RM 50,000 on credit 12-Jan-20 The renovation of the shop is worth RM46,000 and has paid RM20,000 to Syk Kayu Kayan using a check and the rest will be paid next month 12-Jan-20 Purchased supplies from Padi Emas Enterprise for RM 30,000 in cash and paid by check 13-Jan-20 Buy from Unggul Sdn Bhdof RM30,000 in cash using the check and the rest will be paid next month amounting to RM20,000. The goods are for sale. 14-Jan-20 Electricity deposit of RM300.00 and RM200 phone call are paid in cash. 15-Jan-20 The owner took RM2,000 for his own use. 16-Jan-20 Pay premium insurance in cash of RM2,000 16-Jan-20 Sales on the first day of RM5,000. 17-Jan-20 Pay the promotional cost of RM3,000 in cash. 17-Jan-20 Sales collection of RM 4,000 18-Jan-20 Sales collection of RM 2,000 18-Jan-20 Selling goods to Perdana Sdn Bhd worth RM500 on credit 18-Jan-20 Deposit cash into the bank of RM10,000. 19-Jan-20 Sales collection of RM3,000 20-Jan-20 Collection from sales of RM1,400 21-Jan-20 Selling goods to Sakti Sdn Bhd worth RM300 on credit 21-Jan-20 Collection from sales of RM2,300 21-Jan-20 22-Jan-20 22-Jan-20 23-Jan-20 23-Jan-20 24-Jan-20 24-Jan-20 25-Jan-20 25-Jan-20 25-Jan-20 25-Jan-20 26-Jan-20 26-Jan-20 26-Jan-20 26-Jan-20 27-Jan-20 27-Jan-20 Deposit cash into the bank of RM10,000. Collection from daily sales of RM3,100 Receive a check from Perdana Sdn Bhd of RM500 Explain the telephone bill of RM56, water bill of RM20, electricity bill of RM235 Collection from daily sales of RM3,200 Pay a monthly salary of RM1,000, EPF RM100, SOCSO RM 20. Collection from daily sales of RM2,800 Settle RM1,500 shop rent by check. Pay to Han Seng Company with a check of RM 20,000.00 Collection from daily sales of RM2,780 Deposit cash into the bank of RM10,000. Sending goods to Perdana Sdn Bhd worth RM300 in debt. Collection from daily sales of RM2,500 Buy items for stock on credit from Syarikat Ali Ahmad worth RM12,000 Buying goods in cash from wholesalers of RM5,100 is paid by check. Collection from daily sales of RM3,000 Sending back goods purchased from Ali Ahmad Company for RM2350 due to damage. Sakti Sdn Bhd pays the outstanding debt of RM300 Collection from daily sales of RM3,000 Purchase additional furniture for the store for RM2,500 in cash. Deposit cash into the bank of RM4,000 Collection from daily sales of RM3,500 Collection from daily sales of RM4,000 Collection from daily sales of RM4,500 Deposit cash into the bank of RM10,000 28-Jan-20 28-Jan-20 28-Jan-20 28-Jan-20 29-Jan-20 30-Jan-20 31-Jan-20 31-Jan-20 Additional information 1. The final supply balance is worth RM123,042 2. Depreciation rates for assets are: - a. Vehicles 20% per annum b. Office equipment & furniture20% per annum c. Computers 20% per year d. Machine 20% per annum Therefore you are required to help him prepare: - 1. Journal entries for Jan 2020 transactions 2. Transfer the journal entries to the relevant general foyer and subsidiary ledger. 3. Prepare Trial Balance on 31st Jan 2020 4. Prepare Income Statement for Ria Gold Shop ending 31st Jan 2020 5. Prepare Balance Sheet or Balance Sheet by 31st Jan 2020 (10 marks)