Fuzzy Trading has the following transactions for the month of August 2021. 2021 August 1 Commenced...

  

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Fuzzy Trading has the following transactions for the month of August 2021. 2021 August 1 Commenced business with RM2000 in the bank. 2 Purchased goods on credit from the following: Yoong RM75, Wong RM35 and Mei RM55. 5 Cash sales RM78. 6 Paid wages in cash RM13. 7 Sold goods on credit to : Erwin RM40, John RM42 and Shen RM68. Bought goods for cash RM56. 9 10 Bought goods on credit from: Wong RM59 and Mei RM89. Paid wages in cash RM13. 12 13 Sold goods on credit to: John RM32 and Shen RM23. 15 Purchased furniture from Lin Furnishing RM50 on credit. Paid Wong by cheque RM84. 17 18 Returned goods to Mei RM20. 21 Paid Lin Furnishing a cheque for RM50. 24 Shen settled his account by cheque RM91. Goods returned to Yoong RM25. 30 Steve lent the business RM100 by cash. 31 Purchased a motor vehicle paying by cheque RM400. Required: (a) Record the transactions in the general ledger books of Jusco Trading with simple journals. (12 marks) (b) Prepare a Trial Balance as at 31 August 2021. 27 Fuzzy Trading has the following transactions for the month of August 2021. 2021 August 1 Commenced business with RM2000 in the bank. 2 Purchased goods on credit from the following: Yoong RM75, Wong RM35 and Mei RM55. 5 Cash sales RM78. 6 Paid wages in cash RM13. 7 Sold goods on credit to : Erwin RM40, John RM42 and Shen RM68. Bought goods for cash RM56. 9 10 Bought goods on credit from: Wong RM59 and Mei RM89. Paid wages in cash RM13. 12 13 Sold goods on credit to: John RM32 and Shen RM23. 15 Purchased furniture from Lin Furnishing RM50 on credit. Paid Wong by cheque RM84. 17 18 Returned goods to Mei RM20. 21 Paid Lin Furnishing a cheque for RM50. 24 Shen settled his account by cheque RM91. Goods returned to Yoong RM25. 30 Steve lent the business RM100 by cash. 31 Purchased a motor vehicle paying by cheque RM400. Required: (a) Record the transactions in the general ledger books of Jusco Trading with simple journals. (12 marks) (b) Prepare a Trial Balance as at 31 August 2021. 27

Answer rating: 100% (QA)

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