The following is the information extracted from the accounting book of Juwita Shop as at 31 January
Question:
The following is the information extracted from the accounting book of Juwita Shop as at 31 January 2022.
Particulars | RM |
Building | 50,000 |
Motor Vehicles | 50,000 |
Furniture | 20,000 |
Cash | 10,000 |
Bank | 90,000 |
Account receivable – Rahmat | 20,000 |
Account Payable – Li Fang | 30,000 |
Date | Particulars |
2022 Feb 1 | Credit Sale of RM2,000 to Iman |
7 | Paid utility bill of RM300 by cash |
9 | Purchased goods on credit to Mr lim worth RM20,000 trade discount 10%. |
10 | Sold used furniture worth RM200 for cash. The sales amount is deposited into bank. |
12 | Cash sale of RM8,000 |
17 | Iman returned goods worth RM200 |
19 | Sent sale invoice of Rm15,000 to Reza |
22 | Returned defective goods worth RM700 to account payable – Li Ann |
25 | Rahmat paid half of his debt by cheque |
29 | Paid off debts to Li Ann RM15,000, Mr. Lim RM5,000 and employee’ salaries of RM2,000 by cheque |
You are required to:
Record the transaction into journal entry.
Post entries to ledgers.
Prepare the trial balance as at 28 February 2022.
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon