Question
QUESTION 2 Mr. Amran is the owner of Berdaya Maju Sdn Bhd. a company that offers self -service laundry services in Jitra, Kedah. The following
QUESTION 2
Mr. Amran is the owner of Berdaya Maju Sdn Bhd. a company that offers self -service laundry services in Jitra, Kedah. The following is a list of transactions that took place during the month of September 2021.
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1 | Mr Amran added capital to his business in the form of RM150,000 in cash and RM120,000 in laundry equipment |
2 | Purchase laundry equipment on credit, RM35,000 |
2 | The company bought a four -wheel drive vehicle worth RM90,000. The company pays a cash deposit of ten percent (10%) of the price of the vehicle. The balance is paid using bank financing for 9 years |
16 | Collecting laundry revenue of RM l5,000 |
20 | Paying 60% of the debt of laundry equipment purchased on September 2, 2021 |
27 | Pay in cash employees' salaries and utility bills of RM8,000 and RM15,000 respectively |
29 | Made the first payment of RM1,100 to the bank for a vehicle purchased on 2 September 2021 |
30 | Mr Amran took RM2,500 cash from the company's account for personal use |
Additional information: The cash account balance as at 31 August 2021 is RM25,000.
BE REQUIRED:
a) Prepare journal entries for transactions throughout September 2021 (Description not required).
b) Prepare a Cash Account and determine the balance at the end of September 2021. Use the format as below:
Account: Cash | ||||
Date | Description | Debit | Credit | Balance
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