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Rihanna Gaga commenced her small business on 1 May 2 0 2 0 with a capital of RM 5 , 0 0 0 of which
Rihanna Gaga commenced her small business on May with a capital of RM of which RM was in cash and RM in a bank account. Her transactions during May were as follows: May Borrowed RM from Public Bank Berhad and received in the form of cheque Paid rent of RM by online banking Paid wages of RM in cash Purchased goods for RM by cheque Sold goods for RM cash She withdrew cash RM for her personal used Bought goods on credit for RM from Sally Sold goods on credit for RM to Khoo Bought shop equipment of RM by online banking Paid water and electricity bills of RM in cash Paid insurance of RM by online banking Returned goods costing RM to Sally Khoo returned goods with an invoice value of RM Rihanna introduced further capital into the business, RM and transfer it to the bank Bought stationery of RM in cash Sent Sally a cheque for RM Received a cheque for RM from Khoo. Required: a Show the ledger entries using Taccount for the above transactions. b Prepare a trial balance for Rihanna Gaga as at May
Rihanna Gaga commenced her small business on May with a capital of RM of which RM was in cash and RM in a bank account. Her transactions during May were as follows:
May
Borrowed RM from Public Bank Berhad and received in the form of cheque
Paid rent of RM by online banking
Paid wages of RM in cash
Purchased goods for RM by cheque
Sold goods for RM cash
She withdrew cash RM for her personal used
Bought goods on credit for RM from Sally
Sold goods on credit for RM to Khoo
Bought shop equipment of RM by online banking
Paid water and electricity bills of RM in cash
Paid insurance of RM by online banking
Returned goods costing RM to Sally
Khoo returned goods with an invoice value of RM
Rihanna introduced further capital into the business, RM and transfer it to the bank
Bought stationery of RM in cash
Sent Sally a cheque for RM
Received a cheque for RM from Khoo.
Required:
a Show the ledger entries using Taccount for the above transactions.
b Prepare a trial balance for Rihanna Gaga as at May
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