Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 8 Memories Forever Trading is a business selling souvenirs. The following transaction took place in the month of September 2017. September 1 owner invested

image text in transcribed

Question 8 Memories Forever Trading is a business selling souvenirs. The following transaction took place in the month of September 2017. September 1 owner invested cash into the business of the bank account RM 100,000 3 Purchased a motor van from Lim Motors costing RM 70,000. Deposit RM 10,000 was paid by cheque and the balance to be paid by installment starting next month 6 Received invoices from Amir RM8,000 and Harriz RM 3,000 for good purchased 8 sold good on credit to Zulaikha RM 4,800 and Khaira RM 3,600 15 issued a debit note for damage goods returned to Harriz RM 600 20 Received a cheque from pelangi Berhad for Investment income RM 15,000 23 Paid RM 1,200 using cheque to Tenaga Nasional Berhad for electricity expenses 26 Received a cheque for cash sales amounting RM 10,000 29 The owner withdrew goods worth RM 340 for personal use Required: a) Prepared Journal Entries

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Wiley CPAexcel Exam Review Focus Notes Auditing And Attestation 2022

Authors: Wiley

1st Edition

111984858X, 978-1119848585

More Books

Students also viewed these Accounting questions