Question 3

On 1 January 2020, Alif and Aidil started their own computer shop by investing RM50,000 each. They decided to call their computer shop as Computer Heaven Sdn Bhd (CHSB). Their shop is selling computer and computer peripherals. They deposited their investment in a bank account with Maybank Berhad. During the month of January, below were the transactions that took place:

(1) Purchased 3 computers on account value at RM3,000 each.

(2) Purchased 2 computers by cheque value at RM2,500 each

(3) Paid rent of RM3,000 by cheque to Alifs father for the business premises. The rental for the month was RM1, 000, whereas the balance is the deposit for two months.

(4) Sold 3 computers on account value at RM5,000 each.

sales

(5) Sold 2 computers via cash value at RM5,000 each and paid directly into bank.

(6) Paid salary to an account clerk for RM1,000 by cheque

(7) Paid utility bills for RM500 by cash

(8) Received telephone bills from Telekom Malaysia Berhad (TMB). The bills stated RM500 and RM1, 000 as a deposit and telephone bills respectively.

(9) Purchased a second hand motor vehicle value at RM20,000 by cheque.

(10) Paid maintenance expenses for RM500 by cheque.

(11) Obtain bank loan for RM100,000. CHSB deposited the cash in their bank accounts.

(12) Paid salary, RM3,000 by cheque.

(13) Alif withdrew RM1,000 cash from the business for his personal used.

(14) Purchased machinery on account for RM25,000.

As the Company accountant you are required to:

1). Record the above transactions in the General Journals.

2). Post the transactions into three column Ledger Accounts.

3). Prepare CHSB Trial Balance as at 31 January 2020.