Selected transactions for Ibrahem Berhad are as follows: 1. 2. 3. 4. 5. 6. 7. 8....

 

Transcribed Image Text:

Selected transactions for Ibrahem Berhad are as follows: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Stockholders invest RM40,000 in cash in starting a real estate office operating as a corporation. Purchased RM500 of supplies on credit. Purchased equipment for RM25,000, paying RM3,500 in cash and signed a 30- day, RM21,500, note payable. Real estate commissions billed to clients amount to RM4,000. Paid RM700 in cash for the current month's rent. Paid RM250 cash on account for office supplies purchased in transaction 2 Received a bill for RM800 for advertising for the current month. Paid RM2,500 check for office salaries. Paid RM1,200 cash dividends to stockholders. Received a check for RM2,000 from a client in payment on account for commissions billed in transaction 4 Required: Journalize the above transactions in General Journal form. Explanations are not required. (10 marks) (Total 25 marks) Selected transactions for Ibrahem Berhad are as follows: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Stockholders invest RM40,000 in cash in starting a real estate office operating as a corporation. Purchased RM500 of supplies on credit. Purchased equipment for RM25,000, paying RM3,500 in cash and signed a 30- day, RM21,500, note payable. Real estate commissions billed to clients amount to RM4,000. Paid RM700 in cash for the current month's rent. Paid RM250 cash on account for office supplies purchased in transaction 2 Received a bill for RM800 for advertising for the current month. Paid RM2,500 check for office salaries. Paid RM1,200 cash dividends to stockholders. Received a check for RM2,000 from a client in payment on account for commissions billed in transaction 4 Required: Journalize the above transactions in General Journal form. Explanations are not required. (10 marks) (Total 25 marks)

Answer rating: 100% (QA)

51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 1 Cash Accou... View the full answer