Sammi started her business on 1 January 2021 called Trendy. You are required to prepare the GENERAL JOURNAL for the following transactions of Trendy for the first month of operations. Narratives are not required for each journal entry.Jan 01Sammi invested RM50, 000 cash into the business.Jan 02Trendy purchased used motor vehicle for RM20,000.Jan 08Trendy paid rent for RM4, 000.Jan 08Trendy completed work for a client and immediately received RM15, 000.Jan 12Sammi signed a RM50,000 small business loans with CIMB Bank under Trendy’s name.Jan 15Ideal Homes renovated and installed fixtures and fittings at a cost of RM3, 000. Trendy will pay the bill at a later date.Jan 15Trendy paid RM1, 000 cash for advertisement in a local magazine.Jan 28Trendy completed work for another client on credit and invoiced the client RM5, 000. The client is allowed to settle the bill within 30 days.Jan 30Trendy paid Ideal Homes that installed the fixtures and fittings earlier.Jan 30Trendy paid RM150 for usage of electricity for the month. Question 4Sammi started her business on 1 January 2021 called Trendy. You are required toprepare the GENERAL JOURNAL for the following transactions of Trendy for the firstmonth of operations. Narratives are not required for each journal entry.| Sammi invested RM50, 000 cash into the business.Jan01JanTrendy purchased used motor vehicle for RM20,000.02Jan| Trendy paid rent for RM4, 000.08JanTrendy completed work for a client and immediately received RM15, 000.08JanSammi signed a RM50,000 small business loans with CIMB Bank under Trendy's12name.Ideal Homes renovated and installed fixtures and fittings at a cost of RM3, 000.Trendy will pay the bill at a later date.Jan15Jan| Trendy paid RM1, 000 cash for advertisement in a local magazine.15Trendy completed work for another client on credit and invoiced the client RM5, 000.The client is allowed to settle the bill within 30 days.Jan28|Trendy paid Ideal Homes that installed the fixtures and fittings earlier.Jan30JanTrendy paid RM150 for usage of electricity for the month.30

Name: Sammi started her business on 1 January 2021 called Trendy. You are re
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Description: Sammi started her business on 1 January 2021 called Trendy. You are required to prepare the GENERAL JOURNAL for the following transactions of Trendy for the first month of operations. Narratives are not required for each journal entry.Jan 01Sammi inv

The journal entries are prepared to keep the record of day to day transactions of the business.

Answered: Sammi started her business on 1 January…

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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Sammi started her business on 1 January 2021 called Trendy. You are required to prepare the GENERAL JOURNAL for the following transactions of Trendy for the first month of operations. Narratives are not required for each journal entry.

Jan 01
Sammi invested RM50, 000 cash into the business.
Jan 02
Trendy purchased used motor vehicle for RM20,000.
Jan 08
Trendy paid rent for RM4, 000.
Jan 08
Trendy completed work for a client and immediately received RM15, 000.
Jan 12
Sammi signed a RM50,000 small business loans with CIMB Bank under Trendy’s name.
Jan 15
Ideal Homes renovated and installed fixtures and fittings at a cost of RM3, 000. Trendy will pay the bill at a later date.
Jan 15
Trendy paid RM1, 000 cash for advertisement in a local magazine.
Jan 28
Trendy completed work for another client on credit and invoiced the client RM5, 000. The client is allowed to settle the bill within 30 days.
Jan 30
Trendy paid Ideal Homes that installed the fixtures and fittings earlier.
Jan 30
Trendy paid RM150 for usage of electricity for the month.

Question 4
Sammi started her business on 1 January 2021 called Trendy. You are required to
prepare the GENERAL JOURNAL for the following transactions of Trendy for the first
month of operations. Narratives are not required for each journal entry.
| Sammi invested RM50, 000 cash into the business.
Jan
01
Jan
Trendy purchased used motor vehicle for RM20,000.
02
Jan
| Trendy paid rent for RM4, 000.
08
Jan
Trendy completed work for a client and immediately received RM15, 000.
08
Jan
Sammi signed a RM50,000 small business loans with CIMB Bank under Trendy's
12
name.
Ideal Homes renovated and installed fixtures and fittings at a cost of RM3, 000.
Trendy will pay the bill at a later date.
Jan
15
Jan
| Trendy paid RM1, 000 cash for advertisement in a local magazine.
15
Trendy completed work for another client on credit and invoiced the client RM5, 000.
The client is allowed to settle the bill within 30 days.
Jan
28
|Trendy paid Ideal Homes that installed the fixtures and fittings earlier.
Jan
30
Jan
Trendy paid RM150 for usage of electricity for the month.
30

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