Answered step by step
Verified Expert Solution
Question
1 Approved Answer
requirement:journal, ledgers n trial balance Question 4 Go bank 0:000 mortgage on premises RM100,000; office equipment RM15,000; cash a had the following balances on 1
requirement:journal, ledgers n trial balance
Question 4 Go bank 0:000 mortgage on premises RM100,000; office equipment RM15,000; cash a had the following balances on 1 February 2016: Land and builidino ing RMEntepr M120,000; mo RM120,000 and cash on hand RM2,000. The following are the business transactions for the month of February 2016, which are o be recorded in the books of Goon Enterprise. Date Feb.4 Feb.5 Feb.6 Feb.11 Transactions Sold goods RM600 cash Sold goods on credit to Lolo RM50,000 Paid sundry expenses RM140 in cash Feb.12 Feb. 16 Feb. 18 Feb.19 Purchase goods on credit from Orak Enterprise worth RM 10,000. Received 5% trade discount Sold goods on credit to Suko Enterprise RM21,000 Suko Enterprise returned 10% of the goods sold to them Received a credit note from Orak Enterprise for goods returned worth RM1,000 Paid Orak Enterprise in full settlement of the amount owing for goods Owner took cash of RM300 for his own use Feb.20 purchased by cheque Made cash purchases of RM20,000 Feb.22 Feb.23 Purchase office furniture RM50,000 from Ali Enteprise.Paid RM10,000 by cheque to Ali Enterprise as part of the settlement of the asset bought.The balance outstanding will be settled in 30 monthly instalments starting from March 2014Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started