subject: financial accounting $2$

ASSIGNMENT $2$

QUESTION $1$

Prepare the following accounts $(1)$ Purchases $(2)$ Sales $(3)$ Returns Outwards $(4)$ Returns Inwards and other relevant accounts.

$2023$

May

$1$ Bought goods on creditRM$220$ from Small

$2$ Bought goods on credit RM$410$ from Lyon & Son

$5$ Sold goods on credit to Hughes for RM$60$

$6$ Sold goods on credit to Spencer for RM$45$

$10$ Returned goods RM$15$ to Small

$11$ Goods sold for cash RM$210$

$12$ Goods bought for cash RM$150$

$19$ Spencer returned RM$16$ goods to us

$21$ Goods sold for cash RM$175$

$22$ Paid cash to Small RM$205$

$30$ Hughes paid the amount owing by him RM$60$ in cash

$31$ Bought goods on credit RM$214$ from Lyon & Son

ASSGNMENT $2$

QUESTION $2$

Enter the following transactions in the appropriate accounts of Linda:

$2023$

July

$1$ Started business with RM$20,000$ in the bank

$2$ Rupert lent us RM$5,000$ in cash

$3$ Bought goods on credit from Brown RM$1,530$ and Jess RM$4,162$

$4$ Sold goods for cash RM$1,910$

$6$ Took RM$200$ of the cash and paid it into the bank

$8$ Sold goods on credit to Rise RM$1,530$

$10$ Sold goods on credit to Taylor RM$341$

$11$ Bought goods on credit from Brown RM$560$

$12$ Rise returned goods to us RM$65$

$14$ Sold goods on credit to Pate RM$535$ and Sim RM$262$

$15$ We returned goods to Brown RM$94$

$17$ Bought van on credit from Aberdeen Cars Ltd RM$9,100$

$18$ Bought office furniture on credit from Winter Ltd RM$1,800$

$19$ We returned goods to Jess RM$130$

$20$ Bought goods for cash RM$770$

$24$ Goods sold for cash RM$110$

$25.$ Paid money owing to Brown by cheque RM$1,924$

$$ Goods returned to us by Pate RM$34$

$$ Returned some of office furniture costing RM$180$ to Winter Ltd$.$

$$ Linda put a further RM$2,500$into the business in the form of cash

$$ Paid Aberdeen Cars Ltd RM$9,100$ by cheque

$31$ Bought office furniture for cash RM$365$

please solve the above $2$ questions step by step