Question: note to expert: you are required to prepare a written report for the following tasks using ms word only or type here dont use your
note to expert: you are required to prepare a written report for the following tasks using ms word only or type here dont use your hand writing please.
Question 1 has been answered, I need Q2
- Record the transactions in Ledgers and Balance-off the ledgers.
Transactions for the month of April of a bakery, ColaCake Enterprise are given as the following.
2021
APR 1 Initial investment to start the business with RM200,000 cash
2 Put RM90,000 of the cash into a bank account
3 Bought goods for cash RM5,500
4 Bought goods on credit from: CIKU RM800; CAKU RM930; TIKU RM160; TAKU RM510
5 Bought stationery on credit from TULIS BHD RM89
6 Sold goods on credit to: GIGA RM170; MEGA RM240; PETA RM326; TERA RM204.
8 Rent paid by cheque RM220
10 Bought fixtures & fittings by credit from TABLE BHD RM610.
11 Paid salaries in cash RM790.
14 Returned goods to CAKU RM30; TIKU RM42.
15 Bought a Mobile Lorry by cheque RM6,500.
16 Received loan from RHB BHD by cheque RM2,000.
18 Sales return from GIGA RM5; PETA RM20.
21 Cash sales RM145
24 Sold goods on credit to MEGA RM130, TERA RM410; ZETA RM158.
26 ColaCake paid the following by cheque: CAKU RM900; TIKU RM118.
29 Received cheques from ZETA RM158; MEGA RM370.
30 Received a further loan from POSB BHD by cash RM500.
30 Received RM614 cash from TERA
- Prepare a Prime Book Entry for the above transactions
Expert Answer
Answer:
| Date | Particulars | Debit ($) | Credit ($) |
| April 1 | Cash | $200,000.00 | |
| Capital | $200,000.00 | ||
| (Being cash invested in business) | |||
| April 2 | Bank | $90,000.00 | |
| . | Cash | $90,000.00 | |
| (Being cash deposited in to bank) | |||
| April 3 | Inventory/ Purchase | $5,500.00 | |
| Cash | $5,500.00 | ||
| (Being cash purchase made) | |||
| April 3 | Purchase / inventory | $2,400.00 | |
| Accounts payable | $2,400.00 | ||
| (Being goods from CIKV 800: CAKU RM930,TIKU RM160,TAKU RM510 | |||
| April 5 | Stationery | $89.00 | |
| Accounts payable | $89.00 | ||
| (Being stationery bought on credit) | |||
| April 6 | Accounts receivable | $940.00 | |
| Sales | $940.00 | ||
| (Being goods sold on credit RM170 Mega RM240, PETA RM326,TEXA RM204 | |||
| April 8 | Rent | $220.00 | |
| Bank | $220.00 | ||
| (Being rent paid by cheque) | |||
| April 10 | Fixture & Fillings | $610.00 | |
| Accounts payable | $610.00 | ||
| (Being Fixture & Filling bought on credit ) | |||
| April 11 | Salaries | $790.00 | |
| Cash | $790.00 | ||
| (Being salaries paid in cash) | |||
| April 14 | Accounts payable | $72.00 | |
| Purchase return | $72.00 | ||
| (Returned goods to CAKU RM30 & TIKU RM42) | |||
| April 15 | Mobile Lorry | $6,500.00 | |
| Bank | $6,500.00 | ||
| (Being lorry purchased by cheque) | |||
| April 16 | Bank | $2,000.00 | |
| Bank loan | $2,000.00 | ||
| (Being loan taken from Bank) | |||
| April 18 | Sales return | $25.00 | |
| Accounts receivable | $25.00 | ||
| (Being sale return from GIGA RM5 & PETA EM20) | |||
| April 21 | Cash | $145.00 | |
| Sales | $145.00 | ||
| (Being Cash sales recorded) | |||
| April 24 | Accounts receivable | $698.00 | |
| Sales | $698.00 | ||
| (Being goods sold on credit to MEGA RM130 , TERA RM 410 & ZETA RM158) | |||
| April 26 | Accounts payable | $1,018.00 | |
| Cash | $1,018.00 | ||
| (Being cash paid to CAKU 900 & TIKU 118) | |||
| April 29 | Cash | $528.00 | |
| Account Receivable | $528.00 | ||
| (Being Cash Received from ZETA RM 158 & MEGA RM 370) | |||
| April 30 | Cash | $500.00 | |
| Bank loan | $500.00 | ||
| (Being loan taken in cash) | |||
| April 30 | Cash | $614.00 | |
| Accounts receivable | $614.00 | ||
| (Being cash received from TERA RM 614) |
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