Hafiz has established his own business, Hafiz Cyber Service on 1 November 2020. Thebusiness offers services in computer consultancy. The following is a list of transactionsQUESTION 4Incurred by Hafiz Cyber Service throughout the month of November 2020.DateNovemberTransactions1Hafiz invested cash of RM20.000 into Hafiz Cyber Service.Purchased a piece of land valued at RM19,000. The business paid cashRM4,000 and the balance is financed by bank loan.2Purchased office supplies by cash for RM2,900.4Received RM6,200 cash from customer for services provided.Paid office rental for the month of November of RM1,600.Paid RM360 to advertise the business in the newspaper.Purchased office equipment on credit from Seng Heng Sdn Bhd amountingto RM3,600.9.Provided services valued at RM3.500 to a customer. The customer promisedto pay next month.1025Paid salary of temporary staff for RM1,400 for the November.A company planned to rent the land owned by Hafiz Cyber Service startingnext month. The business received the cash payment of RM1,500 from thetenant for the three months' land rental (December 2020 to February 2021).26Paid insurance premium of RM4,800 for coverage against losses due to fireand burglary for a period of 24 months.29Paid utilities bill for the month amounted to RM1,070.30Customer made payment for account receivable of RM1,300.30Unused office supplies valued at RM2,100.30Hafiz made cash drawings of RM500.Required:a)Prepare the journal entries for all the above transactions. Narrations are not required.Post to relevant ledger accounts.b)Prepare the trial balance as at 30 November 2020.c)d)Prepare statment of profit and loss accounte)Prepare statement of financial position27

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Description: Hafiz has established his own business, Hafiz Cyber Service on 1 November 2020. Thebusiness offers services in computer consultancy. The following is a list of transactionsQUESTION 4Incurred by Hafiz Cyber Service throughout the month of November 20

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business offers services in computer consultancy. The following is a list of transaction Hafiz has established his own business, Hafiz Cyber Service on 1 November 2020. TH incurred by Hafiz Cyber Service throughout the month of November 2020. Date November Transactions Hafiz invested cash of RM20,000 into Hafiz Cyber Service. Purchased a piece of land valued at RM19,000. The business paid cash RM4,000 and the balance is financed by bank loan. 2 Purchased office supplies by cash for RM2,900. providod

business offers services in computer consultancy. The following is a list of transaction Hafiz has established his own business, Hafiz Cyber Service on 1 November 2020. TH incurred by Hafiz Cyber Service throughout the month of November 2020. Date November Transactions Hafiz invested cash of RM20,000 into Hafiz Cyber Service. Purchased a piece of land valued at RM19,000. The business paid cash RM4,000 and the balance is financed by bank loan. 2 Purchased office supplies by cash for RM2,900. providod

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...

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please answer and explain all transactions in detail with effects
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