Below are the transactions that Jenny Trading Sdn Bhd (JTSB) incurred during the month of July 2020.
Question:
Below are the transactions that Jenny Trading Sdn Bhd (JTSB) incurred during the month of July 2020. The owner, Jenny is asking for your help in recording the transactions below:
Date | Business Transactions |
1 | Motor vehicle RM30,000; Office Equipment RM20,000; Inventory RM15,000; Cash in hand RM3,000; Bank RM75,000; Trade Receivables RM22,000; Trade Payables RM40,000. |
2 | Received bills from Haji Bakhil Sdn Bhd (HBSB) for July 2019 rental of RM7,000. |
3 | Received bills from Tenaga Nasional Berhad (TNB) for RM1,500. |
4 | Sold goods on credit to Tuku RM16,000 and Tiki RM8,500. |
5 | Purchased goods on credit from Azam RM13,000 and Akim RM8,500. |
6 | Good returned by Tuku RM1,000 and Tiki RM500 due to damage in transit. |
7 | Paid TNB in full using company cheque. |
8 | Bought office equipment for RM27,000 on credit from Harvey Corman Bhd. |
10 | Damaged goods were returned to Azam RM1,000. |
12 | Bought laptops for office used on credit from Computers Geek Bhd (CGB) valued at RM20,000. |
15 | Owner write a cheque of RM2,000 to herself as personal expenditures. |
17 | Purchased goods on credit from Rudo Enterprise RM15,000. |
20 | Paid HBSB its’ due through company cheque. |
22 | Sold goods on credit: Malik RM4,500; Muda RM7,500; Maju RM9,500. |
23 | Purchased goods on credit of RM6,000 from Azila Enterprise. |
24 | Paid Azam and Akim in full using cheque. |
25 | Maju and Malik returned damaged goods of RM1,000 and RM500 respectively. |
26 | Tuku and Tiki paid their outstanding in full by sending cheques. |
Required:
a) Record all the above transactions in appropriate journals.
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin