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QUESTION 2 : Casey launched a new business, K C Hairven ( K C H ) that began operations on 1 June. The following transactions
QUESTION :
Casey launched a new business, Hairven that began operations on June. The following transactions were completed by the company during the first month:
June
Casey invested RM cash in the business, Hairven KCH
Hired assistants for KCH with salary RM which will be paid on every month.
Purchased equipment RM on credit from Perfect Equipment.
Performed service to customers and received RM by cash.
Performed RM cutting service for IKBN College students, on account.
Purchased second hand van from Second Auto Marketing at the cost of RM KCH paid Second Auto Marketing RM by cash and the balance of RM on credit.
Purchased supplies from Merit Supplies for RM on account.
Paid RM for assistant salary and RM for space rent by cash.
Received RM cash from IKBN College as part of payment for transaction on June.
Required:
a Journalize the above transactions Prepare general day books
b Post to the accounts Post to the ledger Taccounts
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