MR Ali, a former manager has just resigned from the reputable IT company In Kuala Lumpur, opened his own sole proprietorship company named SALAM TRADING, selling the range of FURNITURE. The following balances are taken from the accounting book of Salam Trading on 31 st November 2005.

1. Journalize all the transactions and the adjusting entries in the general journal.
2. Post all entries from general journal to general ledger.
3. Prepare the Adjusted Trial Balance for the month.
4. Prepare the Statement of Profit or Loss and Other Comprehensive Income for the month.
5. Prepare the Statement of Changes in Equity for the month.
6. Prepare the Statement of Financial Position as at the end of the month.

PARTICULARS Motor vehicles Furniture Cash Bank Account receivable Account payable RM 40,000.00 30,000.00 5,000.00 15,000.00 7,000.00 4,500.00 The following are transaction that occurred in December 2005. December 2 The business owner brought in a vehicle valued at RM20,000.00 3 Credit purchase of RM3,000.00 7 Cash sale of RM2,000.00 8 Paid supplier RM1,500.00 by cheque. 11 Returned goods worth RM500.00 to supplier. 12 Sold goods worth RM4,000.00 on credit. 15 Withdrew RM1,000.00 cash from bank for own use. 18 Sold used furniture for RM3,000.00 cash. 22 Customer returned goods worth RM700.00. 25 Paid employees salary of RM2,000.00 by cheque. 27 Paid office rental RM1,500.00, electric and water bill RM300.00 and telephone bill RM500.00 in cash. 29 Customer paid debt of RM7,000.00 by cheque