Transaction Account to be Account to be debited credited a. Started a business with RM50,000 by cash b. Owner transfer RM25,000 cash to the business bank account c. Purchased a motor vehicle on credit from Honda Berhad for RM40,000 d. Bought goods on credit from Laila Berhad worth RM250 e. Paid to Lili Berhad, a creditor RM100 by cheque f. The owner took out RM1,500 cash for family holiday trip with his family g. Goods purchased from Lili Berhad broken so we returned back to her worth RM25 h. Cash sales RM800 i. Paid electricity bill by cheque for RM200 2.

Transaction Account to be Account to be debited credited a. Started a business with RM50,000 by cash b. Owner transfer RM25,000 cash to the business bank account c. Purchased a motor vehicle on credit from Honda Berhad for RM40,000 d. Bought goods on credit from Laila Berhad worth RM250 e. Paid to Lili Berhad, a creditor RM100 by cheque f. The owner took out RM1,500 cash for family holiday trip with his family g. Goods purchased from Lili Berhad broken so we returned back to her worth RM25 h. Cash sales RM800 i. Paid electricity bill by cheque for RM200 2.

Name: 2.TransactionAccount to beAccount to bedebitedcrediteda. Started a bu
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: 2.TransactionAccount to beAccount to bedebitedcrediteda. Started a business with RM50,000 by cashb. Owner transfer RM25,000 cash to thebusiness bank accountc. Purchased a motor vehicle on credit fromHonda Berhad for RM40,000d. Bought goods on credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Lightwell LLC a client of Sun Electronix LLC deposited OMR 5000 directly in the account of Sun Electronix LLC in Safe Bank .Journalize the transaction in Sun Electronix LLC 's cash book and show how the transaction is presented in the Bank statement.
Q.No 5: The following transaction is obtained from the records of New Metrics Company. Date Particulars Jan 1, 2020 Cash balance – 15,600, Bank Balance - OMR 13,800 Cash sales – OMR 4,800 Deposited in to Bank - OMR 7,000 Purchased Goods from Mr.Waleed - OMR 4,200 Drew from Bank for office use -OMR 1,200 Paid cheque to Mr.Waleed OMR 4,000 and received discount OMR 200 Sold goods to Mr. Sharooq -OMR 12000 Paid sundry expenses – OMR 120 Received cheque from Mr.Sharooq OMR 11,800 and discount allowed -OMR 200 2 7 8 10 14 16 18 Purchased stationary – OMR 3,500 Cash sales paid in to Bank OMR 4,500 19 20 23 Withdraw from Bank for Personal use – OMR 1,600 Bought goods for Cash – OMR 1,800 Mr.Sharooq cheque paid in to Bank Purchased furniture by cheque - OMR 1,500 Mr.Sharooq cheque was dishonoured by the bank Loan received from bank OMR 2,500 24 25 26 29 30 Required: From the above information prepare triple column cash book with Discount, Cash and Bank Column.
You are given the following information to do with Peters Hotel Balance b/f $20,164 Cash sale $284,300 Credit sale $400,000 Receipt from debtors $162,300 Cash payment Fuel $14,800 Refreshments $3,720 Wages $18,475 You are required to prepare a cash book in order to determine in new cash book balance.
Assign the letter to indicate whether the following items would be added from the company's books or the bank statement during the construction of a bank reconciliation. Clear All Charges for some other company's safe deposit box were posted to your account A $1,000 note from one of Added to the bank your customers was statement balance collected by the bank Added the company's Interest revenue earned by books the note above EFT deposit from a customer
Build journals below according to the transactions given 1. Purchase journal 2. Sales Journal 3. Return inwards journal 4. Return outwards journal 5. Cash receipts journal 6. Cash payment journal 7. General journal
3C. Compile three column cashbook of Mr. Uzair from the following transactions: 2020 Oct 1 Mr. Uzair started business with cash OMR 4000 4 Deposited into Bank OMR 2000 8 Purchased goods on credit from Haya for OMR 1000 10 Sold goods to Kawthar on credit for OMR 600 12 Goods purchased by paying cheque OMR 400 15 Paid wages OMR 40 20 Withdrew from bank for personal use OMR 200 25 Received cash from Kawthar OMR 540, in full settlement of his account 26 Paid electricity OMR 20 28 Withdrew from Bank for business use OMR 2000 30 Paid to Haya by cheque OMR 900, in full settlement of her account
Kindly prepare the following: Ledgers Balancing off the accounts Trial balance
As on 30 April the Bank statement of CAT LLC reports a bank balance of RO 6,250, without recording a credit transfer from a customer of RO 4,200 and a standing order payment of RO 3,500. Deposits awaiting clearance were RO 3,400 and the value of cheques yet to be presented on this date was RO 3,780. The cash bank balance is. a. RO 4330 b. Ro 8170 c. RO 2830 d. RO 1920
is the answer to this question correct If you received a check from Mr. Jones for $500 for work you performed last week, which journal would you use to record receipt of the amount they owed you? What would be recorded? This transaction will be recorded in the Cash Receipts Journal. The receipt of cash from the sale of goods, as payment on accounts receivable or from other transactions, is recorded in a cash receipts journal with a debit to cash and a credit to the source of the cash, whether that is from sales revenue, payment on an account receivable, or some other account. Chapter 7 Accounting Information Systems out of Principles of Accounting, Volume 1. CASH RECEIPTS JOURNAL Date Account Cash DR Accounts Receivable CR 2022 Mar.13 Mr. Jones $ 500 $ 500
Journalize the following transactions and prepare cash account 1 Started business with 50,000, paid into Bank * 20,000.2 Bought furniture for 5,000 and machinery for * 10,000.3 Purchased goods for * 14,000.6 Sold goods for * 8,000.8 Purchased goods from Malhotra & Co. * 11,000.10 Paid telephone rent for the year by cheque * 500.11 Bought one typewriter for 2,100 from Universal Typewriter Co. on credit.15 Sold goods to Keshav Ram for 12,000.17 Sold goods to Rajesh Kumar for 2,000 for cash.19 Amount withdrawn from bank for personal use * 1,500.20 Withdrew from bank for business use 3,500.
Prepare ram account from the following transaction
following transactions for 2021 from the books of the business. This company operates one bank account to reflect all cash and cheque transactions. You are now required to read these transactions carefully then prepare the relevant documents and books as outlined in the requirements below. 4/9 1 Aug Started business with $150, 000 in the bank 3 Aug Bought supplies on credit from Right Way Manufacturers 24 Boxes Air Filter $720.00 per box 96 Bottles fuel injector cleaner $200.00 per bottle 48 Boxes Spark Plug $300.00 per box 36 Boxes Brake Shoe $580.00 per box 24 Boxes Disc Pads $400.00 per box 5 Aug Provided services for cash less 10% discount 12 small motorbike engines $350.00 per engine 6 large motorbike engines (full service) $950.00 per engine 8 medium size motorbike engines (full service) $800.00 per engine 7 Aug Paid Rent by cheque $5,000.00 10 Aug Paid Wages by cheque $8,000.00 10 Aug Bought Fixtures from CT Limited $3,500.00 paying by cash 11 Aug Provided services on credit to…