Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 Mr. Fernandes is the owner of a sole proprietorship, F. Fernandes Enterprise. The following is his accounting record as at 1 August 2022.

image text in transcribed
Question 1 Mr. Fernandes is the owner of a sole proprietorship, F. Fernandes Enterprise. The following is his accounting record as at 1 August 2022. Date Business Transactions Started the business with RM16,000 cash and RM11,000 in the bank. 2 Bought goods on credit: J Biggs RM830, D Martin RM610, and P Lot RM590. 3 Bought goods for cash RM370. Paid rent in cash RM75. 5 Bought stationery paying by cheque RM62. 6 Sold goods on credit: D Twigg RM370, B. Hogan RM290, K. Fletcher RM410. Paid wages and rent in cash of RM160 and RM175. 8 Returned goods to D. Martin RM195. 12 B. Hogan returns goods RM35. 15 Bought a van on credit from B. Black for RM6, 100. 24 Received part of the amount owing from K. Fletcher by cheque RM250. 28 Paid by cheque: J Biggs RM830; D. Martin RM415, B. Black RM6, 100. Required: State the double entry for the above transactions. (Total: 20 Marks)

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

Hospitals What They Are And How They Work

Authors: Don Griffin, Donald J Griffin

3rd Edition

076372758X, 9780763727581

More Books

Students also viewed these Accounting questions