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QUESTION 2 Part A Pose for Pics Sdn Bhd is a company offering photography services. The owner of the company is Zura Khan Below are
QUESTION 2 Part A Pose for Pics Sdn Bhd is a company offering photography services. The owner of the company is Zura Khan Below are the transactions incuted for the month of August, 2020. 66 14 The owner invested RM57,500 cash and photography equipment of RM32,500 in the business in exchange for the ownership of the company 4h Paid RM3,000 cash for an insurance policy covering the next 24 months. Performed photography services and billed client for RM5,000. The client booked the photography services for the upcoming event and paid RM5,000 in advance 7h The business acquires photography equipment amounting to RM100,000, of which RM25,000 is paid cash and the remaining is by signing notes payable 10h Zura Khan withdrew cash of RM2,000 for personal use. 11h The client paid half of the amount owed for the services performed on the 5th 15h Placed advertisement in Majalah Nona for RM500, to be paid within one week. 2014 Received RM2,500 cash for the photography services performed Required: Prepare journal entries for the above transactions. You may exclude the explanation Part B Bermnmg Sdn Bhd provided the following information for the month of October. 1. Balance per bank on 30 October RM31,080. 2. Balance per books on 30 October -RM32,210 3. Total outstanding cheques at 30 October -RM2,100. 4. Debit memoranda: a. NSF check from Kelana Schn Bhd -RM450. b. Printing company cheques RM20. C. Electronic payment to bank for a loanRM2,220. Of this amount, RM90 is interest 5. Credit memorandum: Electronic Fund Transfer (EFT) from customer for RM1,450. 6. A cheque written this month to TNC Sdn Bhd, and cleared the bank at the correct amount of RM1,790, but was recorded at RM1,870. 7. The bank charged a RM270 cheque of ABC Company against the account of Beratung Sdn Bhd 8. Deposit in transit on 30 October -RM1,800. Required: Prepare a bank reconciliation statement for October
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