Ramadhani is the owner of Adha Enterprise located in Shah Alam, Selangor. Adha Enterprise, a grocery shop started its operation in January 2023. The following transactions are selected from the business for the month of January 2023. Date January 2023 1 2 3 4 5 8 9 11 17 20 25 26 27 28 Transactions The owner contributed RM90,000 cash and office equipment valued at RM40,000 to start the business. Deposit RM70,000 cash into the business bank account. Purchased fax machine from Mala Trading costing RM4,700. The payment will be paid in two equal installments starting next month. Received a bank loan worth RM75,000 from LLH Bank. Purchased goods on credit worth RM7,500 from Senang, Enterprise. Cash sales to Safuan amounting to RM4,500. Purchased goods worth RM8,000 from Adam Runcit and paid via online transfer. A credit note of RM550 was received from Senang, Enterprise for damaged goods returned. Sold goods amounting RM5,500 to Kamisah on credit. Paid Senang, Enterprise for full settlement by cheque. Invested RM20,000 in fixed deposits by cheque. A cheque for RM5,200 was received from Kamisah on which RM200 cash discount was given to her. Paid wages and salaries RM25,000 to all the workers through online banking. The owner took RM5,000 cash to settle her personal debts. Required: a. Identify the effects (increase or decrease) of assets, liabilities, owner's equity, revenues or expenses for the transactions dated of all the above transactions. b. Show the journal entry (debit and credit) of all the above transactions.
Ramadhani is the owner of Adha Enterprise located in Shah Alam, Selangor. Adha Enterprise, a grocery shop started its operation in January 2023. The following transactions are selected from the business for the month of January 2023. Date January 2023 1 2 3 4 5 8 9 11 17 20 25 26 27 28 Transactions The owner contributed RM90,000 cash and office equipment valued at RM40,000 to start the business. Deposit RM70,000 cash into the business bank account. Purchased fax machine from Mala Trading costing RM4,700. The payment will be paid in two equal installments starting next month. Received a bank loan worth RM75,000 from LLH Bank. Purchased goods on credit worth RM7,500 from Senang, Enterprise. Cash sales to Safuan amounting to RM4,500. Purchased goods worth RM8,000 from Adam Runcit and paid via online transfer. A credit note of RM550 was received from Senang, Enterprise for damaged goods returned. Sold goods amounting RM5,500 to Kamisah on credit. Paid Senang, Enterprise for full settlement by cheque. Invested RM20,000 in fixed deposits by cheque. A cheque for RM5,200 was received from Kamisah on which RM200 cash discount was given to her. Paid wages and salaries RM25,000 to all the workers through online banking. The owner took RM5,000 cash to settle her personal debts. Required: a. Identify the effects (increase or decrease) of assets, liabilities, owner's equity, revenues or expenses for the transactions dated of all the above transactions. b. Show the journal entry (debit and credit) of all the above transactions.
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...
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Transcribed Image Text:Ramadhani is the owner of Adha Enterprise located in Shah Alam, Selangor. Adha Enterprise,
a grocery shop started its operation in January 2023. The following transactions are selected
from the business for the month of January 2023.
Date
January
2023
1
2
3
4
5
8
9
11
17
20
25
26
27
28
Transactions
The owner contributed RM90,000 cash and office equipment valued at
RM40,000 to start the business.
Deposit RM70,000 cash into the business bank account.
Purchased fax machine from Mala Trading costing RM4,700. The payment
will be paid in two equal installments starting next month.
Received a bank loan worth RM75,000 from LLH Bank.
Purchased goods on credit worth RM7,500 from Senang Enterprise.
Cash sales to Safuan amounting to RM4,500.
Purchased goods worth RM8,000 from Adam Runcit and paid via online.
transfer.
A credit note of RM550 was received from Senang, Enterprise for damaged
goods returned.
Sold goods amounting RM5,500 to Kamisah on credit.
Paid Senang, Enterprise for full settlement by cheque.
Invested RM20,000 in fixed deposits by cheque.
A cheque for RM5,200 was received from Kamisah on which RM200 cash
discount was given to her.
Paid wages and salaries RM25,000 to all the workers through online banking.
The owner took RM5,000 cash to settle her personal debts.
Required:
a. Identify the effects (increase or decrease) of assets, liabilities, owner's equity,
revenues or expenses for the transactions dated of all the above transactions.
b. Show the journal entry (debit and credit) of all the above transactions.
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