Rajini launched a new business, XYZ Tech Solution that began operations on 1 January 2 0 2
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Question:
Rajini launched a new business, XYZ Tech Solution that began operations on January
The following transactions were completed by the company during the first month:
Rajini invested RM cash in the business, XYZ
Purchased office equipment RM on credit from ABC Machine
Obtained a bank loan of RM
Completed a project and received RM in cash.
Invoiced a client for services provided, RM
Received RM in advance for a service to be provided next month.
Purchased office supplies on credit for RM
Paid RM in salaries for the month.
Paid RM of the accounts payable for office equipment.
The owner withdrew RM for personal use.
Based on requirement, prepare:
i journal entry for each of the transaction Please include the transaction on January
first investmentm
ii post the transaction to the taccounts and balance off accounts m
iii trial balance as at st January m
iv at least TWO adjustment to the account m
v financial statement for the month of January m
Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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