Question 5 Sammi started her business on 1 January 2021 called Trendy. You are required toprepare the GENERAL JOURNAL for the following transactions of Trendy for the first month of operations. Narratives are not required for each journal entry. Jan01 Sammi invested RM50, 000 cash into the business. Jan02 Trendy purchased used motor vehicle for RM20,000. Jan08 Trendy paid rent for RM4, 000. Jan08 Trendy completed work for a client and immediately received RM15, 000. Jan12 Sammi signed a RM50,000 small business loans with CIMB Bank under Trendy’sname. Jan15 Ideal Homes renovated and installed fixtures and fittings at a cost of RM3, 000.Trendy will pay the bill at a later date. Jan15Trendy paid RM1, 000 cash for advertisement in a local magazine. Jan28Trendy completed work for another client on credit and invoiced the client RM5, 000.The client is allowed to settle the bill within 30 days. Jan30Trendy paid Ideal Homes that installed the fixtures and fittings earlier. Jan30Trendy paid RM150 for usage of electricity for the month.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Question 5
Sammi started her business on 1 January 2021 called Trendy. You are required toprepare the GENERAL JOURNAL for the following transactions of Trendy for the first month of operations. Narratives are not required for each journal entry.


Jan01 Sammi invested RM50, 000 cash into the business.


Jan02 Trendy purchased used motor vehicle for RM20,000.


Jan08 Trendy paid rent for RM4, 000.


Jan08 Trendy completed work for a client and immediately received RM15, 000.


Jan12 Sammi signed a RM50,000 small business loans with CIMB Bank under Trendy’sname.


Jan15 Ideal Homes renovated and installed fixtures and fittings at a cost of RM3, 000.Trendy will pay the bill at a later date.


Jan15Trendy paid RM1, 000 cash for advertisement in a local magazine.


Jan28Trendy completed work for another client on credit and invoiced the client RM5, 000.The client is allowed to settle the bill within 30 days.


Jan30Trendy paid Ideal Homes that installed the fixtures and fittings earlier.


Jan30Trendy paid RM150 for usage of electricity for the month.

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