Question 1 Prepare the double entry for the following transactions. 2018 January 1 Started business with...

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Question 1 Prepare the double entry for the following transactions. 2018 January 1 Started business with RM12,000 in the bank January 3 Purchased office equipment for RM 4,000 paying by cheque January 6 Withdrew RM1000 from bank and transfer to cash account. January 10 Bought office furniture on credit from Aiza for RM 1400 January 13 Purchased used lorry on credit from Gan Enterprise for RM 1800 January 20 Paid cheque to Aiza RM 700. January 21 Returned RM 700 of furniture to Aiza due to its unsuitability January 24 Sent cheque to Gan RM 1800 January 31 Bought office fixtures for RM 200 cash Question 2 Prepare the double entry for the following transactions. 2017 February 1 Started firm with RM 8,000 cash February 5 Paid RM 4,000 of cash into business bank account February 6 Brought personal laptop amounting RM 1,200 to the business. February 7 Obtained loan of RM 5000 from RHA Bank and immediately deposited to the bank account. February 11 Purchased motorcycle RM 3,600 on credit from Z Motor Enterprise. February 24 Purchased equipment for RM 2,000 paying by cheque Question 1 Prepare the double entry for the following transactions. 2018 January 1 Started business with RM12,000 in the bank January 3 Purchased office equipment for RM 4,000 paying by cheque January 6 Withdrew RM1000 from bank and transfer to cash account. January 10 Bought office furniture on credit from Aiza for RM 1400 January 13 Purchased used lorry on credit from Gan Enterprise for RM 1800 January 20 Paid cheque to Aiza RM 700. January 21 Returned RM 700 of furniture to Aiza due to its unsuitability January 24 Sent cheque to Gan RM 1800 January 31 Bought office fixtures for RM 200 cash Question 2 Prepare the double entry for the following transactions. 2017 February 1 Started firm with RM 8,000 cash February 5 Paid RM 4,000 of cash into business bank account February 6 Brought personal laptop amounting RM 1,200 to the business. February 7 Obtained loan of RM 5000 from RHA Bank and immediately deposited to the bank account. February 11 Purchased motorcycle RM 3,600 on credit from Z Motor Enterprise. February 24 Purchased equipment for RM 2,000 paying by cheque

Answer rating: 100% (QA)

Question 1 2018 January 1 Cash Debit RM 12000 Capital Credit RM 12000 January 3 Office Equipment Deb... View the full answer