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Rajini launched a new business, XYZ Tech Solution that began operations on 1 January 2 0 2 4 . The following transactions were completed by

Rajini launched a new business, XYZ Tech Solution that began operations on 1 January
2024. The following transactions were completed by the company during the first month:
1 Rajini invested RM50,000 cash in the business, XYZ.
5 Purchased office equipment RM10,000 on credit from ABC Machine
10 Obtained a bank loan of RM30,000
15 Completed a project and received RM20,000 in cash.
17 Invoiced a client for services provided, RM15,000.
19 Received RM5,000 in advance for a service to be provided next month.
25 Purchased office supplies on credit for RM2,000.
27 Paid RM8,000 in salaries for the month.
28 Paid RM3,000 of the accounts payable for office equipment.
30 The owner withdrew RM7,000 for personal use.
Based on requirement, prepare:
(i) journal entry for each of the transaction (Please include the transaction on 1 January
2023- first investment)(10m)
(ii) post the transaction to the t-accounts and balance off accounts (15m)
(iii) trial balance as at 31st January 2023.(5m)
(iv) at least TWO (2) adjustment to the account (5m)
(v) financial statement for the month of January 2023(10m)

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i Journal entries for each transaction 1 January 1 Cash Dr 50000 Capital Cr 50000 5 January 10 Office Equipment Dr 10000 Accounts Payable Cr 10000 10 ... blur-text-image

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