The transactions of Sun Rainbow Enterprise for the month of December 2020 are listed below. Transactions...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The transactions of Sun Rainbow Enterprise for the month of December 2020 are listed below. Transactions Date Dec Started the business with cash at bank RM150,000 and cash in hand RM130,000. Bought goods on credit from Josh Green Sdn. Bhd. amounted to RM15,000 with credit term 1/10,n/30. 2 4 8 9 12 13 17 18 19 20 22 23 26 28 31 Bought furniture amounted to RM12,000 by cash. Sold goods to Henry Red Trading amounted to RM3,000 with credit term 2/15,n/30. Cash sales RM100. Cash purchase RM200. Sales to Audrey Trading on credit transaction amounted RM1,000 with credit term 2/5, n/30. Withdrew RM1,500 of goods for personal use. Bought goods on credit RM4,000 from Anesa Cute Sdn. Bhd. with credit term 1/5,n/30. Paid salaries with amount RM12,000 by cash. Received a loan from bank amounted to RM100,000. Received full payment from Henry Red Trading by cheque. Paid interest on loan RM1,000 by using cheque. Bought stationeries amounted RM50. Paid full settlement to Anesa Cute Sdn. Bhd. by cheque. Bought machineries by credit amounted RM100,000. from ABC Trading. Required: Show the above transactions in the subsidiary books. a) Cash Book b) Sales Day Book c) Purchase Day Book d) General Journal (15 marks) (3 marks) (3 marks) (4 marks) [Total: 25 marks] The transactions of Sun Rainbow Enterprise for the month of December 2020 are listed below. Transactions Date Dec Started the business with cash at bank RM150,000 and cash in hand RM130,000. Bought goods on credit from Josh Green Sdn. Bhd. amounted to RM15,000 with credit term 1/10,n/30. 2 4 8 9 12 13 17 18 19 20 22 23 26 28 31 Bought furniture amounted to RM12,000 by cash. Sold goods to Henry Red Trading amounted to RM3,000 with credit term 2/15,n/30. Cash sales RM100. Cash purchase RM200. Sales to Audrey Trading on credit transaction amounted RM1,000 with credit term 2/5, n/30. Withdrew RM1,500 of goods for personal use. Bought goods on credit RM4,000 from Anesa Cute Sdn. Bhd. with credit term 1/5,n/30. Paid salaries with amount RM12,000 by cash. Received a loan from bank amounted to RM100,000. Received full payment from Henry Red Trading by cheque. Paid interest on loan RM1,000 by using cheque. Bought stationeries amounted RM50. Paid full settlement to Anesa Cute Sdn. Bhd. by cheque. Bought machineries by credit amounted RM100,000. from ABC Trading. Required: Show the above transactions in the subsidiary books. a) Cash Book b) Sales Day Book c) Purchase Day Book d) General Journal (15 marks) (3 marks) (3 marks) (4 marks) [Total: 25 marks]
Expert Answer:
Answer rating: 100% (QA)
a Cash Book Dec 2 Cash at Bank 150000 150000 Cash in Hand 130000 280000 Dec 4 Josh Green Sdn Bhd 150... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
A researcher wanted to find out if there was difference between older movie goers and younger movie goers with respect to their estimates of a successful actors income. The researcher first...
-
Use a calculator to evaluate an ordinary annuity formula \[A=m\left[\frac{\left(1+\frac{r}{n}ight)^{n t}-1}{\frac{r}{n}}ight]\] for \(m, r\), and \(t\) (respectively) given in Problems 7-22. Assume...
-
Rod CD is attached to the collar D and passes through a collar welded to end B of lever AB. Neglecting the effect of friction, determine the couple M required to hold the system in equilibrium when...
-
In 1975, Carlos Cordova and several other investors founded Capital National Bank (CNB) in Bronx, New York. Cordova was appointed the bank's chief executive officer and chairman of the board. Over...
-
Vann Stubbs started Stubbs Carpet Installers, Inc., and during the first month of operations (December 2011) the business completed the following selected transactions: a. Stubbs began the business...
-
Herman Swayne is a waiter at the Dixie Hotel. In his first weekly pay in March, he earned $160.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($700.00),...
-
Question list K Solve for x. 54x-2 = 25 Question 1 Question 2 The solution set is . Question 3 Question 4 Question 5 Question 6 Question 7
-
New Age Solar sells and installs solar panels for residential homes. The companys sales representatives contact and pay a personal visit to potential customers to present the benefits of installing...
-
7. Given (x+y) mod 5 =3 and (x-y) mod 2=0, find out a pair of x and y. (1%) 8. Does the set of residue (mod 5) form a group with respect to modular addition? Justify your answer. (1%) 9. Does the set...
-
Question:- The counting rate from a radioactive source is 4000 counts per second at time t = 0. After 10 s, the counting rate is 1000 counts per second. (a) What is the half-life? (b) What is the...
-
View Video Title: Ethnography - Ellen Isaacs at TedX (TedTalk) Compare the 5-Step Marketing Research Process to the NYC Parking Problem Study conducted by Isaacs Ethnography was used as the marketing...
-
An airplane with a flexing wing in flight shown in the top sketch can be idealized by the mechanical model shown in the bottom sketch. L(y) is the lift generated by the wing as a function of the...
-
Olympic Games Directions: As a team, we need to choose a sport that is currently NOT played in either the Winter of Summer Olympics (go to Olympic.org and choose the second tab "Sports". That has an...
-
1) Why might a supply manager prefer to look for a new supplier rather than place additional business with an existing supplier? Why not? 2) Why is the trend toward single sourcing? What are the...
-
An aquarium is planning to install 3 EV chargers in the parking lot and each one is expected to cost $738. The aquarium made extra revenue from charging vehicles and new patrons visiting the aquarium...
-
MgO prevents premature evaporation of Al in a furnace by maintaining the aluminum as Al2O3. Another type of matrix modifier prevents loss of signal from the atom X that readily forms the molecular...
-
Steve Drake sells a rental house on January 1, 2012, and receives $130,000 cash and a note for $55,000 at 10 percent interest. The purchaser also assumes the mortgage on the property of $45,000....
-
Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19-year-old nanny $125 per week for 48 weeks during the current year. a. What is the employer's portion...
-
Ray and Maria Gomez have been married 3 years. They live at 1610 Quince Ave., McAllen, TX 78701. Ray works for Palm Oil Corporation and Maria works for the City of McAllen. Maria's Social Security...
-
Under what conditions can WTO members not use MFN when dealing with one another?
-
What does most favored nation (MFN) mean?
-
How do the various forms of economic integration differ?
Study smarter with the SolutionInn App