PURPOSES The purpose of this assignment is to improve the ability of students to understand the transactions of accounting transactions and be able to form financial statements QUESTION 1 Mr Amru Nazli started the business of a gold shop called Emas Ria The shop commenced operations on 1st Jan 2021 Here are the transactions in the first month of operation of the store 1 Jan 21 Started a business with a cash capital of RM50,000 which was put into the bank 3 Jan 21 Obtained a loan from Bank Islam Bhd of RM150,000 for business use 9 Jan 21 Purchase a van costing RM58,200 on credit from Syarikat Auto Sdn Bhd and the monthly payment is RM693 00 paid on the 30th of each month 10 Jan 21 Purchase items for sale stock from the Golden Bird Company worth RM9,000 by cash transfer 10 Jan 21 Purchase office equipment worth RM7,000 via cash transfer 11 Jan 21 Purchase a computer costing RM3,000 for shop use via cash transfer 11 Jan 21 Purchase goods for sale stock from Han Seng Company worth RM 50,000 on credit 12 Jan 21 The renovation of the shop is worth RM46,000 and has paid RM20,000 to Syk Kayu Kayan by cheque and the rest will be paid next month 12 Jan 21 Purchase items for sale stock from Padi Emas Enterprise for RM 30,000 paid by cheque 13 Jan 21 Purchase from Unggul Sdn Bhd for RM50,000, RM30,000 is paid by cheque and the rest will be paid next month amounting to RM20,000 The goods are for sale 14 Jan 21 An electricity deposit of RM300 00 and a telephone of RM200 is paid by cheque 15 Jan 21 The owner takes RM2,000 for his own use 16 Jan 21 Paying premium insurance for businesses with a cheque of RM2,000 for Jan to May 2021 16 Jan 21 First day sales of RM5,000 in cash and bank in on the same day 17 Jan 21 Pay a promotional cost of RM3,000 by cheque 17 Jan 21 Sales collection of RM 4,000 in cash and at the bank in on the same day 18 Jan 21 Sales collection of RM 2,000 in cash and at the bank in on the same day 18 Jan 21 Selling jewellery to Perdana Sdn Bhd worth RM500 on a credit basis 19 Jan 21 Sales collection of RM3,000 in cash and at bank in on the same day 20 Jan 21 Proceeds from sales of RM1,400 in cash and at bank in on the same day 21 Jan 21 Selling goods to Sakti Sdn Bhd worth RM300 on a credit basis 21 Jan 21 Proceeds from sales of RM2,300 in cash and at bank in on the same day 22 Jan 21 Collection from daily sales of RM3,100 in cash and at bank in on the same day 22 Jan 21 Received cheque from Perdana Sdn Bhd for RM500 23 Jan 21 Paying RM56 phone bill, RM20 water bill, RM235 electricity bill via credit transfer 23 Jan 21 Collection from daily sales of RM3,200 in cash and at bank in on the same day 24 Jan 21 Pay a monthly salary of RM3,000, EPF RM300, SOCSO RM 50 via cash transfer 24 Jan 21 Collection from daily sales of RM2,800 in cash and at bank in on the same day 25 Jan 21 Pay the rental of a shop of RM1,500 by cheque 25 Jan 21 Pay to Han Seng Company with a cheque of RM 20,000 00 25 Jan 21 Collection from daily sales of RM2,780 in cash and at bank in on the same day 26 Jan 21 Selling goods to Perdana Sdn Bhd worth RM300 on credit 26 Jan 21 Collection from daily sales of RM2,500 in cash and at bank in on the same day 26 Jan 21 Purchase items for stock on credit from Syarikat Ali Ahmad worth RM12,000 26 Jan 21 Purchase goods in cash from wholesalers for RM5,100 paid by cheque 27 Jan 21 Collection from daily sales of RM3,000 in cash and at bank in on the same day 27 Jan 21 Repatriating items purchased from Ali Ahmad Company for RM2350 due to damage 28 Jan 21 Sakti Sdn Bhd pays a debt of RM300 by cheque 28 Jan 21 Collection from daily sales of RM3,000 in cash and at bank in on the same day 28 Jan 21 Purchase additional office equipment of RM2,500 via cash transfer 29 Jan 21 Collection from daily sales of RM3,500 in cash and at bank in on the same day 30 Jan 21 Collection from daily sales of RM4,000 in cash and at bank in on the same day 31 Jan 21 Collection from daily sales of RM4,500 in cash and at bank in on the same day Additional information Final stock balance worth RM123,042 The depreciation rate for assets is Vehicles20 per annum Office equipment furniture20 per annum Computer20 per annum Machine20 per annum Therefore you are required to provide Journal entries for transactions of Jan 2021 Transfer the journal entries into the general opaque and the relevant subsidiary ledger Prepare Duga Balance on 31st Jan 2021 Prepare Income Statement for Ria Gold Shop ending 31st Jan 2021 Prepare Balance Sheet or Balance Sheet on 31st Jan 2021

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PURPOSES The purpose of this assignment is to improve the ability of students to understand the transactions of accounting transactions and be able to form

PURPOSES

The purpose of this assignment is to improve the ability of students to understand the transactions of accounting transactions and be able to form financial statements.

QUESTION 1

Mr. Amru Nazli started the business of a gold shop called Emas Ria. The shop commenced operations on 1st Jan 2021. Here are the transactions in the first month of operation of the store.

1-Jan-21	Started a business with a cash capital of RM50,000 which was put into the bank.
3-Jan-21	Obtained a loan from Bank Islam Bhd of RM150,000 for business use
9-Jan-21	Purchase a van costing RM58,200 on credit from Syarikat Auto Sdn Bhd and the monthly payment is RM693.00 paid on the 30th of each month.
10-Jan-21	Purchase items for sale/stock from the Golden Bird Company worth RM9,000 by cash transfer.
10-Jan-21	Purchase office equipment worth RM7,000 via cash transfer.
11-Jan-21	Purchase a computer costing RM3,000 for shop use via cash transfer.
11-Jan-21	Purchase goods for sale/stock from Han Seng Company worth RM 50,000 on credit
12-Jan-21	The renovation of the shop is worth RM46,000 and has paid RM20,000 to Syk Kayu Kayan by cheque and the rest will be paid next month
12-Jan-21	Purchase items for sale/stock from Padi Emas Enterprise for RM 30,000 paid by cheque
13-Jan-21	Purchase from Unggul Sdn Bhd for RM50,000, RM30,000 is paid by cheque and the rest will be paid next month amounting to RM20,000. The goods are for sale.
14-Jan-21	An electricity deposit of RM300.00 and a telephone of RM200 is paid by cheque.
15-Jan-21	The owner takes RM2,000 for his own use.
16-Jan-21	Paying premium insurance for businesses with a cheque of RM2,000 for Jan to May 2021
16-Jan-21	First day sales of RM5,000 in cash and bank-in on the same day.
17-Jan-21	Pay a promotional cost of RM3,000 by cheque.
17-Jan-21	Sales collection of RM 4,000 in cash and at the bank-in on the same day.
18-Jan-21	Sales collection of RM 2,000 in cash and at the bank-in on the same day.
18-Jan-21	Selling jewellery to Perdana Sdn Bhd worth RM500 on a credit basis
19-Jan-21	Sales collection of RM3,000 in cash and at bank-in on the same day.
20-Jan-21	Proceeds from sales of RM1,400 in cash and at bank-in on the same day
21-Jan-21	Selling goods to Sakti Sdn Bhd worth RM300 on a credit basis
21-Jan-21	Proceeds from sales of RM2,300 in cash and at bank-in on the same day
22-Jan-21	Collection from daily sales of RM3,100 in cash and at bank-in on the same day
22-Jan-21	Received cheque from Perdana Sdn Bhd for RM500
23-Jan-21	Paying RM56 phone bill, RM20 water bill, RM235 electricity bill via credit transfer
23-Jan-21	Collection from daily sales of RM3,200 in cash and at bank-in on the same day
24-Jan-21	Pay a monthly salary of RM3,000, EPF RM300, SOCSO RM 50 via cash transfer.
24-Jan-21	Collection from daily sales of RM2,800 in cash and at bank-in on the same day
25-Jan-21	Pay the rental of a shop of RM1,500 by cheque.
25-Jan-21	Pay to Han Seng Company with a cheque of RM 20,000.00
25-Jan-21	Collection from daily sales of RM2,780 in cash and at bank-in on the same day
26-Jan-21	Selling goods to Perdana Sdn Bhd worth RM300 on credit.
26-Jan-21	Collection from daily sales of RM2,500 in cash and at bank-in on the same day
26-Jan-21	Purchase items for stock on credit from Syarikat Ali Ahmad worth RM12,000
26-Jan-21	Purchase goods in cash from wholesalers for RM5,100 paid by cheque.
27-Jan-21	Collection from daily sales of RM3,000 in cash and at bank-in on the same day
27-Jan-21	Repatriating items purchased from Ali Ahmad Company for RM2350 due to damage.
28-Jan-21	Sakti Sdn Bhd pays a debt of RM300 by cheque
28-Jan-21	Collection from daily sales of RM3,000 in cash and at bank-in on the same day
28-Jan-21	Purchase additional office equipment of RM2,500 via cash transfer.
29-Jan-21	Collection from daily sales of RM3,500 in cash and at bank-in on the same day
30-Jan-21	Collection from daily sales of RM4,000 in cash and at bank-in on the same day
31-Jan-21	Collection from daily sales of RM4,500 in cash and at bank-in on the same day

Additional information

Final stock balance worth RM123,042
The depreciation rate for assets is:-
1. Vehicles20% per annum
2. Office equipment & furniture20% per annum
3. Computer20% per annum
4. Machine20% per annum

Therefore you are required to provide :-

Journal entries for transactions of Jan 2021
Transfer the journal entries into the general opaque and the relevant subsidiary ledger.
Prepare Duga Balance on 31st Jan 2021
Prepare Income Statement for Ria Gold Shop ending 31st Jan 2021
Prepare Balance Sheet or Balance Sheet on 31st Jan 2021