QUESTION 1:

Valentino has been in business for some years. The following balances were brought forward in his books of account as at 1^st January 2020:

	RM	RM
	DEBIT	CREDIT
Bank	5,000
Capital		20,000
Cash	1,000
Dodd		2,000
Fish	6,000
Furniture	10,000
	22,000	22,000

During the year to 31^st December 2020 the following transactions took place:

1. Cash transfer to bank RM3,000.
2. Purchase of delivery van costing RM12,000 paid by cheque.
3. Office expenses paid in cash total of RM9,000.
4. Cash received from Fish amounting of RM7,000.
5. Cheques received from Fish amounting of RM45,000.
6. Cheques sent to Dodd amounting of RM29,000.
7. Goods sold to Fish on credit for RM50,000.
8. Cash purchases of RM15,000.
9. Cash sales of RM20,000.
10. Goods bought from Dodd on credit for RM30,000.

Required:

1. Compile Valentinos ledger accounts for the year 31^st December 2020, balance off the accounts and bring down the balances as at 1^st January 2021.
2. Extract a trial balance as at 31^st December 2020.

(50 Mark)