The transactions of Sun Rainbow Enterprise for the month of December 2020 are listed below. Transactions...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The transactions of Sun Rainbow Enterprise for the month of December 2020 are listed below. Transactions Date Dec Started the business with cash at bank RM150,000 and cash in hand RM130,000. Bought goods on credit from Josh Green Sdn. Bhd. amounted to RM15,000 with credit term 1/10,n/30. 2 4 8 9 12 13 17 18 19 20 22 23 26 28 31 Bought furniture amounted to RM12,000 by cash. Sold goods to Henry Red Trading amounted to RM3,000 with credit term 2/15,n/30. Cash sales RM100. Cash purchase RM200. Sales to Audrey Trading on credit transaction amounted RM1,000 with credit term 2/5, n/30. Withdrew RM1,500 of goods for personal use. Bought goods on credit RM4,000 from Anesa Cute Sdn. Bhd. with credit term 1/5,n/30. Paid salaries with amount RM12,000 by cash. Received a loan from bank amounted to RM100,000. Received full payment from Henry Red Trading by cheque. Paid interest on loan RM1,000 by using cheque. Bought stationeries amounted RM50. Paid full settlement to Anesa Cute Sdn. Bhd. by cheque. Bought machineries by credit amounted RM100,000. from ABC Trading. Required: Show the above transactions in the subsidiary books. a) Cash Book b) Sales Day Book c) Purchase Day Book d) General Journal (15 marks) (3 marks) (3 marks) (4 marks) [Total: 25 marks] The transactions of Sun Rainbow Enterprise for the month of December 2020 are listed below. Transactions Date Dec Started the business with cash at bank RM150,000 and cash in hand RM130,000. Bought goods on credit from Josh Green Sdn. Bhd. amounted to RM15,000 with credit term 1/10,n/30. 2 4 8 9 12 13 17 18 19 20 22 23 26 28 31 Bought furniture amounted to RM12,000 by cash. Sold goods to Henry Red Trading amounted to RM3,000 with credit term 2/15,n/30. Cash sales RM100. Cash purchase RM200. Sales to Audrey Trading on credit transaction amounted RM1,000 with credit term 2/5, n/30. Withdrew RM1,500 of goods for personal use. Bought goods on credit RM4,000 from Anesa Cute Sdn. Bhd. with credit term 1/5,n/30. Paid salaries with amount RM12,000 by cash. Received a loan from bank amounted to RM100,000. Received full payment from Henry Red Trading by cheque. Paid interest on loan RM1,000 by using cheque. Bought stationeries amounted RM50. Paid full settlement to Anesa Cute Sdn. Bhd. by cheque. Bought machineries by credit amounted RM100,000. from ABC Trading. Required: Show the above transactions in the subsidiary books. a) Cash Book b) Sales Day Book c) Purchase Day Book d) General Journal (15 marks) (3 marks) (3 marks) (4 marks) [Total: 25 marks]
Expert Answer:
Answer rating: 100% (QA)
a Cash Book Dec 2 Cash at Bank 150000 150000 Cash in Hand 130000 280000 Dec 4 Josh Green Sdn Bhd 150... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
A researcher wanted to find out if there was difference between older movie goers and younger movie goers with respect to their estimates of a successful actors income. The researcher first...
-
Use a calculator to evaluate an ordinary annuity formula \[A=m\left[\frac{\left(1+\frac{r}{n}ight)^{n t}-1}{\frac{r}{n}}ight]\] for \(m, r\), and \(t\) (respectively) given in Problems 7-22. Assume...
-
National Leasing is evaluating the cost of capital to use in its capital budgeting process. Over the recent past, the company has averaged a return on equity of 12% and a return on investment of 9%....
-
When asked to write the series -1 - 4 - 9 - 16 - 25 using summation notation, a student incorrectly wrote the following. Give the correct summation notation. 5 (-1) t=1
-
Compare and contrast the ethical approaches of its legal, therefore, its ok and the ends justify the means. Are there similarities? Are there differences?
-
(Computation of Basic and Diluted EPS) The information below pertains to Barkley Company for 2010. Net income for the year.................................................................$1,200,000...
-
The figure depicts Jack - in - the - box: "Jack" is attached inside a box by a spring, as shown. You estimate Jack's mass to be 0 . 4 k g . As so often happens, a sign tells you the spring constant:...
-
Launched in 1937, Krispy Kreme Doughnuts is a branded specialty retailer of premium doughnuts. Its Original Glazed doughnut is the firm's most recognizable product. However, Krispy Kreme's commitment...
-
Suppose a protestor who never took an economic or business class and who never studied the facts about world trade made a sign that said, "All U.S. multi-national corporations are greedy pigs who...
-
The primary purpose of the IT department is to ensure the company has the latest version of the software being utilized across the enterprise. O True O False
-
Suppose that the Student and TawiihiContext classes exists in the Models folder. Complete the implementation of the StudentController class by adding two action methods; one action method gets the...
-
U Check My Work Sarah Jones is a coder who is working with a team to create a new mobile operating system. At their last meeting, the team discussed whether to make the code open source or closed...
-
Implement Faster RCNN from scratch on COCO Json dataset without Faster RCNN library using PyTorch. You can use any dataset or can generated geometric shape dataset. But Annotation should be in COCO...
-
a. Write a MATLAB's code line to resemble the following equation [1 Point] Y = (A+B) C ; where A = 2, B=4 and C=3
-
Prove COS 4 -+cos 5 12 13 -133 65 = co COS
-
MgO prevents premature evaporation of Al in a furnace by maintaining the aluminum as Al2O3. Another type of matrix modifier prevents loss of signal from the atom X that readily forms the molecular...
-
Steve Drake sells a rental house on January 1, 2012, and receives $130,000 cash and a note for $55,000 at 10 percent interest. The purchaser also assumes the mortgage on the property of $45,000....
-
Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19-year-old nanny $125 per week for 48 weeks during the current year. a. What is the employer's portion...
-
Ray and Maria Gomez have been married 3 years. They live at 1610 Quince Ave., McAllen, TX 78701. Ray works for Palm Oil Corporation and Maria works for the City of McAllen. Maria's Social Security...
-
Say that a firm has fixed costs of $100 and constant average variable costs of $25. a. Show AFC, VC, AVC, and MC in a table. b. Graph the AFC, ATC, AVC, and MC curves. c. Explain why the curves have...
-
An economic consultant is presented with the following total product table and asked to derive a table for average variable costs. The price of labor is $10 per hour. a. Help him do so. b. Show that...
-
Say a firm has $100 in fixed costs and its average variable costs increase by $5 for each unit, so that the cost of 1 is $25, the cost of 2 is $30, the cost of 3 is $35, and so on. a. Show VC, AFC,...
Study smarter with the SolutionInn App