Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following transactions were completed during the month of Jan 2015. Date Transactions 1 st Jan Ana Ong invested RM46700 cash in the business 1

The following transactions were completed during the month of Jan 2015.

Date

Transactions

1st Jan

Ana Ong invested RM46700 cash in the business

1st Jan

Paid 6 moths rent on rental contract for the office, RM6000.

2nd Jan

Received cash from clients on account/credit, RM2000.

2nd Jan

Paid cash for newspaper advertisement, RM400.

4th Jan

Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, RM4500

5th Jan

Purchased additional office equipment on account/credit from OFFICEWARE SDN BHD, RM4800

6th Jan

Paid insurance premium for one-year RM1200.

8th Jan

Recorded cash from clients for fees earned during the period 1-7th Jan RM3300.

9th Jan

Paid cash for office supplies RM600.

11th Jan

Recorded services provided on account for the period 1-10 Jan RM4200.

12th Jan

Anna withdrew RM2400 for personal use.

14th Jan

Received cash from clients on account RM1700.

15th Jan

Paid parttime receptionist for two weeks salary RM1000.

16th Jan

Recorded amount received from cash clients for fees earned during the period 8-15 Jan RM4300.

18th Jan

Received cash from clients on account RM2400.

21st Jan

Recorded Services provided for the period 11-20th Jan RM3200.

22nd Jan

Recorded amount received from cash clients for fees earned during the period 16th 21st Jan RM2600.

24th Jan

Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees RM2800.

25th Jan

Received cash from clients on account RM2500.

28th Jan

Paid part time receptionist salary for ten working days RM1000.

29th Jan

Anna withdrew RM4000 for personal use.

31st Jan

Recorded services provided on account for period 21st to 30th Jan RM3200.

31st Jan

Recorded cash from clients for fees earned during the period 22nd 31st Jan RM2300.

You are required to do:

  1. Prepare the journal entries.
  2. Update the ledger accounts balance for the period of Jan.
  3. Prepare a trial balance.
  4. Prepare an income statement and statement of Owners equity.
  5. Prepare a statement of financial position (Balance sheet).

Account expert, please help on this question using typing in Microsoft Excel. I have wasted my money to post this question again and again because no expert can solve this. Can you please solve this within 2 hours time for the five question. I know chegg guideliens is 4 parts but now there are 5 parts. Please help to solve them nicely and I will upvote with 3 account.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

7. What are the goals?

Answered: 1 week ago