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b) Mr. Adam commenced his audit firm on 1 January 2023. Prepare the journal entries for the following transactions during January 2023. Transactions Date January 1 Adam, the owner of Syarikat ABC, contributed RM10,000 to his company. Syarikat ABC purchased office supplies for RM1,500 on credit from Office Depot. 5 15 Syarikat ABC paid RM800 cash to settle the accounts payable to Office Depot. 21 Syarikat ABC earned RM5,000 cash for revenue for services rendered to a customer. 30 Adam withdraws RM1,200 in cash to settle his personal loan. 31 Syarikat ABC incurred RM800 of utility expenses for the month, to be paid later.

b) Mr. Adam commenced his audit firm on 1 January 2023. Prepare the journal entries for the following transactions during January 2023. Transactions Date January 1 Adam, the owner of Syarikat ABC, contributed RM10,000 to his company. Syarikat ABC purchased office supplies for RM1,500 on credit from Office Depot. 5 15 Syarikat ABC paid RM800 cash to settle the accounts payable to Office Depot. 21 Syarikat ABC earned RM5,000 cash for revenue for services rendered to a customer. 30 Adam withdraws RM1,200 in cash to settle his personal loan. 31 Syarikat ABC incurred RM800 of utility expenses for the month, to be paid later.

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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b) Mr. Adam commenced his audit firm on 1 January 2023. Prepare the journal entries for the following transactions during January 2023. Transactions Date January 1 Adam, the owner of Syarikat ABC, contributed RM10,000 to his company. Syarikat ABC purchased office supplies for RM1,500 on credit from Office Depot. 5 15 Syarikat ABC paid RM800 cash to settle the accounts payable to Office Depot. 21 Syarikat ABC earned RM5,000 cash for revenue for services rendered to a customer. 30 Adam withdraws RM1,200 in cash to settle his personal loan. 31 Syarikat ABC incurred RM800 of utility expenses for the month, to be paid later.
Transcribed Image Text:b) Mr. Adam commenced his audit firm on 1 January 2023. Prepare the journal entries for the following transactions during January 2023. Transactions Date January 1 Adam, the owner of Syarikat ABC, contributed RM10,000 to his company. Syarikat ABC purchased office supplies for RM1,500 on credit from Office Depot. 5 15 Syarikat ABC paid RM800 cash to settle the accounts payable to Office Depot. 21 Syarikat ABC earned RM5,000 cash for revenue for services rendered to a customer. 30 Adam withdraws RM1,200 in cash to settle his personal loan. 31 Syarikat ABC incurred RM800 of utility expenses for the month, to be paid later.
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