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Question Saiful established Special Green Nursery, a small plant nursery business. The following are his transactions for the first month of operation. Mar 1 2
Question Saiful established Special Green Nursery, a small plant nursery business. The following are his transactions for the first month of operation. Mar 1 2 4 6 7 8 9 13 Deposited RM250,000 in the business's bank account to commence operations. Bought van for RM120,000; paying deposit of RM10,000 (from business's bank account) with the balance payable in two years with a loan from Maybank. Bought inventories on credit from Selangor Nursery, RM8,500. Paid rent for the month, RM 500 by cheque. Received cash for services conducted, RM1,500. Bought office furniture RM6,000. Paid by cheque. Transfer money from bank account RM50,000 into business cash account. Cash sales to Din and Family, RM 440. Purchased office furniture on credit from Freestyle Furniture, RM1,200. Sent a debit note to Selangor Nursery, RM1,700. Credit sales to Simply Farm, RM 320. Special Green Nursery decorated a private garden (provide services), received cheque, RM 4,000. Paid cash RM 6,800 on credit purchase made on 2nd March. Bought goods for cash RM10,000. Sold goods for cash RM 250. Goods returned to us by Simply Farm, RM 100. Paid utilities bills, RM 370 by cash. Saiful took RM 500 cash for personal use. 15 17 18 20 22 23 29 30 Prepare all the respective journal entries and ledger accounts related to the above transactions
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