Dec. 2017 1 Started in business with RM8000 in the bank.   2 Bought goods on time from: Frank RM550, Byers RM540, Lee RM610.   5 Cash sales RM510   6 Paid wages in cash RM110.   7 Sold goods on time: Snow RM295, Park RM360: Tyler RM640.   9 Bought goods for cash RM120.   10 Bought good on time from: Byers RM410; Lee RM1240.   12 Paid wages in cash RM110.   13 Sold goods on time to: Park RM610; Tyler RM205.   15 Bought shop fixtures on time from Stop Ltd RM740.   17 Paid Byers by cheque RM700.   18 We return goods to Lee RM83.   21 Paid Stop Ltd a cheque for RM740.   24 Tyler paid us his account by cheque RM845.   27 We return goods to Frank RM18.   30 Prince lent us RM1000 by cash.   31 Bought a van paying by cheque RM6250. Write the transaction and trial balance

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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Dec. 2017

1

Started in business with RM8000 in the bank.

 

2

Bought goods on time from: Frank RM550, Byers RM540, Lee RM610.

 

5

Cash sales RM510

 

6

Paid wages in cash RM110.

 

7

Sold goods on time: Snow RM295, Park RM360: Tyler RM640.

 

9

Bought goods for cash RM120.

 

10

Bought good on time from: Byers RM410; Lee RM1240.

 

12

Paid wages in cash RM110.

 

13

Sold goods on time to: Park RM610; Tyler RM205.

 

15

Bought shop fixtures on time from Stop Ltd RM740.

 

17

Paid Byers by cheque RM700.

 

18

We return goods to Lee RM83.

 

21

Paid Stop Ltd a cheque for RM740.

 

24

Tyler paid us his account by cheque RM845.

 

27

We return goods to Frank RM18.

 

30

Prince lent us RM1000 by cash.

 

31

Bought a van paying by cheque RM6250.

Write the transaction and trial balance

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