QUESTION 1a) Diana started her business on 1 July 2021.transactions during July 2021 were as follows:Date ParticularsCommenced business with capital of RM50,000 cashBought RM300 fixtures and fittings for the shop by cash3 Purchased goods for resale, RM3,000 on credit from Kembang Trading15 Goods of RM3,600 sold on credit to Norin30 Paid RM500 wages for shop assistant by cash31 RM200 cash taken by Diana for her private useREQUIRED:Record the double entries for all the above transactions.(Narrative is not required).Theb) Sofea Enterprise runs a retail business. All cash andcheque receipt and payment are recorded in the CashBook. The following transactions occurred during themonth of September 2021 and are yet to be recordedin the Cash Book:The debit balance in the Cash and Bank accounts are$2,000 and $17,000 respectively.3/9 Transfer cash $1,000 into the bank account.4/9 Purchased goods worth $3,600 by cheque.5/9 Paid Jamilah & Co. $5,000 by cheque for purchase of goods.6/9 The owner took $500 cash for his own use.8/9 Paid the shop rental $3,000 by cheque.10/9 Received a cheque from Ms. Angie amounting to $3,600 after deducting cashdiscount $400.15/9 Cash sales of $3,200.18/9 Issued $2,850 cheque to Seri Enterprise after deducting cash discount of 5%.20/9 Received $5,000 cheque from Faiz Enterprise.23/9 Cash sales banked the same day, $2,600.28/9 Paid wages to shop assistant by cheque, $1,200.REQUIRED:Prepare a Three-column Cash Book, balancing it at 30September 2021. Bring down the balances to 1 October2021.(¹

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a) Diana started her business on 1 July 2021. transactions during July 2021 were as follows: Date Particulars Commenced business with capital of RM50,000 cash 2 Bought RM300 fixtures and fittings for the shop by cash 3 Purchased goods for resale, RM3,000 on credit from Kembang Trading 15 Goods of RM3,600 sold on credit to Norin 30 Paid RM500 wages for shop assistant by cash 31 RM200 cash taken by Diana for her private use REQUIRED: Record the double entries for all the above transactions. (Narrative is not required). The

a) Diana started her business on 1 July 2021. transactions during July 2021 were as follows: Date Particulars Commenced business with capital of RM50,000 cash 2 Bought RM300 fixtures and fittings for the shop by cash 3 Purchased goods for resale, RM3,000 on credit from Kembang Trading 15 Goods of RM3,600 sold on credit to Norin 30 Paid RM500 wages for shop assistant by cash 31 RM200 cash taken by Diana for her private use REQUIRED: Record the double entries for all the above transactions. (Narrative is not required). The

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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J.Moon has the following transactions at for the month of June 2020. June 1 Started business with £28,500 in the bank2 Bought Van paying by cheque £2,1005 Bought office fixtures £850 on credit from Office Hand Ltd8 Bought (second) van on credit from Fast Car Ltd £3,60012 Took £110 out of the bank and put it into the cash till15 Bought office fixtures paying by cash £6019 Paid Fast Car Ltd a cheque for £3,60021 A loan of £2,500 cash is received from F. Maurice25 Paid £160 of the cash in hand into the bank account30 Bought more office fixtures paying by cheque £460Required:a. Write up the transactions in the general ledger of S. Keyes b. Balance up the accounts and extract a Trial Balance as at 30 June 2020.
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