3. Record the following transaction in the appropriate journal, ledger accounts, balance off the accounts and prepare trial balance as at 31 January 2020. Jan 1 Started business with RM2,000 cash 5 Purchased goods on credit RM1,000 10 Sold goods on credit RM800 15 Bought furniture by cash RM400 20 Received cheque from debtor RM800 25 Cash sales RM200 31 Paid salary by cash RM300

3. Record the following transaction in the appropriate journal, ledger accounts, balance off the accounts and prepare trial balance as at 31 January 2020. Jan 1 Started business with RM2,000 cash 5 Purchased goods on credit RM1,000 10 Sold goods on credit RM800 15 Bought furniture by cash RM400 20 Received cheque from debtor RM800 25 Cash sales RM200 31 Paid salary by cash RM300

Name: ohd RadziI3. Record the following transaction in the appropriate jour
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: ohd RadziI3. Record the following transaction in the appropriate journal, ledger accounts,balance off the accounts and prepare trial balance as at 31 January 2020.Jan 1 Started business with RM2,000 cash5 Purchased goods on credit RM1,00010 Sold goo

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Record the following transaction in simple cash book for November 2020: 01 Cash in hand 12,500 04…

A: The question is based on the concept of Business Accounting.

Q: The requirement is a T-shaped account format

A: A T shaped account is the format of the recording the transactions in the account in which there is…

Q: Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at…

A: Ledger: It implies to the posting of the journal entries to the principal accounting book in a…

Q: THE BALANCES OF THE ACCOUNTS OF MONGOLIA TRADING ON DECEMBER 31,2009 ARE AS FOLLOWS: YOU ARE…

A: The question is related to Trial Balance as on 31st December 2009

Q: Jul 2 Recommended to the owner, Jen Beck, that she put some of the cash into a Money Market…

A: QuickBooks is an accounting software package which has various tools like accounting, inventory,…

Q: Question 2 Record the following transactions in the cash receipts journal. Jun. 12 Your…

A: As the Invoice date for invoice number No.1032 is not available, it is assumed that the payment was…

Q: Prepare statement of financial position

A: Introduction: Statement of financial position: All the assets and liabilities are shown in balance…

Q: Current Attempt in Progress On January 1, 2022, the ledger of Swifty Company contains these ability…

A: The unearned service revenue represents the liabilities because these are the advance payment from…

Q: Assume that a relatively new company you and you group members are involved with has presented you…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: PA5. LO 8.5 Iner Resources Company started its business on April1, 2019. The following transactions…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: On December 1, 2022, Surf Clinic provided services to a customer on account for $4,000 with discount…

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

Topic Video

Question

ohd Radzi
I
3. Record the following transaction in the appropriate journal, ledger accounts,
balance off the accounts and prepare trial balance as at 31 January 2020.
Jan 1 Started business with RM2,000 cash
5 Purchased goods on credit RM1,000
10 Sold goods on credit RM800
15 Bought furniture by cash RM400
20 Received cheque from debtor RM800
25 Cash sales RM200
31 Paid salary by cash RM300
4. Below are the transactions for the month of February 2020 for Mrs Lamuna, a sole

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1:- Concept Used

VIEW

Step 2:- Solution to part (a)

VIEW

Step 3:- Solution to part (b)

VIEW

Step 4:- Solution to part (c)

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 9 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Subject: accounting
Show how the following transactions for March 2024 will reflect in the ledger accounts of Mike Traders. i. Purchased trading inventory on cash for R120 000. ii. Bought stationary on credit R7 500. iii. Bought a computer for R19 200 cash.
After posting the July 15 journal entry below to the cash account in the ledger, what would the updated balance in the cash account--the dollar amount on the debit or credit side? (Note: The company had a beginning debit balance of $50,000 on July 1 that should be included.) JOURNAL page 2 DATE DESCRIPTION POST. REF. DEBIT CREDIT 7/15/18 Cash $12,000 Fees Earned $12,000 GENERAL LEDGER ACCOUNT TITLE CASH ACCOUNT NO. 11 DATE ITEM PREF. DEBIT CREDIT DEBIT BALANCE CREDIT BALANCE 7/01/18 Balance $50,000 7/15/18 12,000 ? or ? Group of answer choices $12,000 credit balance $62,000 debit balance $12,000 debit balance $62,000 credit balance
hh. Subject:- Accounting On December 31, the company purchases equipment for $10,000 and pays for the purchase in cash.Complete the necessary journal entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.
Prepare a trial balance as of December 31, 2021. Cash Account 580.00 Interest Earned 200.00 Cash in Bank Account 25,000.00 Inventory Account 20,000.00 Furniture Account 2,000.00 Building Account 10,000.00 Anil Account-debtors 1,000.00 Madhu Account-debtors 2,000.00 Capital Account 55,000.00 Babu's Loan Account 10,000.00 Purchase Account 8,800.00 Purchase Discount 380.00 Bahrat Company-creditors 5,000.00 Fixtures Account 5,300.00 Interest on Loans Payable 500.00 Sales Account 7,100.00 Bad Debts Account 300.00 Salary Account 2,000.00 Drawings Account 200.00 NOTE: Please put VAT as applicable if it requires percentage it's 5%