Answered step by step
Verified Expert Solution
Question
1 Approved Answer
QUESTION 2 Using transactions below, how you set up a simple journal of a balanced accounting equation for each transaction for limu store Abdul
QUESTION 2 Using transactions below, how you set up a simple journal of a balanced accounting equation for each transaction for limu store Abdul Hamid started a shop named limu store selling book on 1" December 2013. The following transactions occurred in December. Dec 1 Started business with RM 180.000 in cash 2 Opened a bank account with Allied Bank with RM90,000 6 Bought books on credit from B& B Ltd for RM 6,000. 12 Bought a motor van for RM 40,000 paying by cheque no. 3113. 18 Bought office furniture from Zain Bhd for RM 55,000 on credit. 19 Paid rent by cheque Rm2.000 20 Bought some more books by cheque for RM 10,000 21 Paid renovation expenses to the shop for RM 2.100 by cheque. 25 Took some books home for his daughter at a cost of RM 300 30 Borrowed a loan of RM 60.000 from Malayan Bank. The money was deposited into the bank 31 Bought a photocopying machine on credit for RM 30,000 from Zain Bhd Reply...
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started