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Question 4 a) The following transactions took place in the month of August 2017: August 1 Started in business with RM80,000 in cash. 1 Sold
Question 4 a) The following transactions took place in the month of August 2017: August 1 Started in business with RM80,000 in cash. 1 Sold goods on credit for RM30,000 to Mr Alan and bought goods for cash RM28,000. 2 Paid general expenses RM 1,800 by cash. 4 Mr. Alan paid cash RM 15,500. 5 Bought goods on credit from Mr. Ken RM 8,000. 6 A loan of RM 15,000 cash is received from Ms Tang. 8 We returned goods to Mr. Ken amounting to RM800. 9 Bought office fixtures paying by cash RM8,500. 11 Paid to creditor Mr. Ken RM3,000 by cash. 12 Owner withdrew RM1,500 worth of goods for his personal use. 17 Sold goods on credit for RM15,800 to Mr. Chin. 19 Paid office expenses RM2,800 by cash. 21 Received from Mr. Chin RM13,000 cash. 28 Paid money owing to Ms Tang RM2,500 by cash. 31 Mr. Alan paid another cash RM1,500. Required: (a) Record the above transactions in the relevant ledgers. (18 marks) (b) Prepare a trial balance as the end of the month. (7 marks) (Total: 25 marks)
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