Question 2:Premla, a sole trader needs your help to record the following daily transactionsfor the month of September:1 SeptemberAssets: Premises RM300,000, Van RM58,000, FurnituresRM45,000, Inventory RM32,000, Accounts receivable: T TwoRM14,000, KJ Venture RM16,000, Cash at bank RM55,540,Cash in hand RM9,200Liabilities: Accounts payable: Powermed RM21,510, BernardRM3,300Loan taken from RHB Bank Berhad of RM100,000, transferredto the bank account.3 SeptemberPaid rent for the month of September RM12,000 by cheque.Purchased goods on credit from Bernard of RM7,000.Sold goods to KJ Venture RM12,000 and cash sales ofRM5,000.Returned goods to Bernard RM1000.Premla take goods costing RM200 out of the business stockwithout paying for them.Paid RM500 in cash for postage stampsCash drawings RM500.Good bought on credit from: Powermed RM10,200, ManiRM3,000, Bernard RM660.Goods returned by KJ Venture RM200.Sold goods on credit to: Siva RM17,000, Syarikat TZ RM8,800.Return goods to Powermed RM1,500.Paid RM900 cash to Powermed, the balance fully settled bytransferred into bank the same day.KJ Venture settled his account by cheque less 5 percent cashdiscount.6 September7 September10 September11 September12 September14 September16 September17 September19 September21 September22 September25 September26 September27 SeptemberThe following settled by Premla by internet transfer less 5percent cash discount: Bernard.Paid wages in cash RM2,000Sidek is unable to pay his debt. We agree to take somedisplay cabinets from him at that value and cancel the debt.Received commission by cheque RM4,000.Took RM200 of the cash and paid it into the bank.28 September30 September31 September31 SeptemberRequired:Enter the above items in the relevant day books.

Answered: Image /qna-images/answer/f1079adb-c6bb-4363-8e61-a2df465f9e12.jpg

Answered: f September: Assets:Premise RM45,000,…

Business

Accounting

f September: Assets:Premise RM45,000, Inven RM14,000, KJ Ve Cash in hand RM

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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