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a) Complete the table b) Record the above transactions in the appropriate ledger accounts. (You are not required to balance off the accounts) Answer a) Mr Young owner of business had started business with cash in bank account RM100,000 Account to be debited Account to be credited

a) Complete the table b) Record the above transactions in the appropriate ledger accounts. (You are not required to balance off the accounts) Answer a) Mr Young owner of business had started business with cash in bank account RM100,000 Account to be debited Account to be credited

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required: a) Complete the table b) Record the above transactions in the appropriate ledger accounts. (You are not required to balance off the accounts) Answer a) Mr Young owner of business had started business with cash in bank account RM100,000 b) Draw cash RM20,000 from business bank account for office use. c) Bought computers for office use RM6,000 on credit from PC Trading d) Sold goods to James on credit RM18,000. e) A debtor, James paid us in cash RM12,000 f) Bought motorcycle by cash RM5,000 Account to be debited Account to be credited
Transcribed Image Text:Required: a) Complete the table b) Record the above transactions in the appropriate ledger accounts. (You are not required to balance off the accounts) Answer a) Mr Young owner of business had started business with cash in bank account RM100,000 b) Draw cash RM20,000 from business bank account for office use. c) Bought computers for office use RM6,000 on credit from PC Trading d) Sold goods to James on credit RM18,000. e) A debtor, James paid us in cash RM12,000 f) Bought motorcycle by cash RM5,000 Account to be debited Account to be credited
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