Question
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:
- Prepare the journal entries.
- Update the ledger accounts balance for the period of Jan.
- Prepare a trial balance.
- Prepare an income statement and statement of Owners equity.
- Prepare a statement of financial position (Balance sheet).
Please answer all questions as they are from one subpart using typing. Thank you. I will upvote.
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