TUTORIAL vome ACCOUTING CYCLE QUESTION 1 2 Pecord the following transactions for November 20X2, balance off thne accounts and prepare atialbalance as at 30 November 20X2. Nov. 1 Started business with RM6,000 in the bank. 2 Bought goods on credit from AB Bhd. for RM390 and XY Trading for RM710. 5 Made cash sales of RM240. 7 Paid rent of RM30 by cheque. 9 Paid sundry expenses of RM200 by cheque. 11 Sold goods on credit to Mutu and Samy, worth RM80 and RM1,150 respectively. 16 Paid wages amounting to RM45 by cash. 18 Returned goods to AB Bhd. and XY Trading worth RM20 and RM35 respectively. 19 Goods returned by Mutu and Samy worth RM10 and RM50 respectively. 21 Bought delivery van worth RM8,000 on credit from Tan Chong Motor. 24 Paid AB Bhd. RM250 and XY Trading RM400 by cheque. 27 Received a loan of RM500 cash from Amin. 29 Received cheques from Mutu and Samy for RM70 and RM600 respectively. 30 The owner deposited a further RM1,000 into the business bank account.

TUTORIAL vome ACCOUTING CYCLE QUESTION 1 2 Pecord the following transactions for November 20X2, balance off thne accounts and prepare atialbalance as at 30 November 20X2. Nov. 1 Started business with RM6,000 in the bank. 2 Bought goods on credit from AB Bhd. for RM390 and XY Trading for RM710. 5 Made cash sales of RM240. 7 Paid rent of RM30 by cheque. 9 Paid sundry expenses of RM200 by cheque. 11 Sold goods on credit to Mutu and Samy, worth RM80 and RM1,150 respectively. 16 Paid wages amounting to RM45 by cash. 18 Returned goods to AB Bhd. and XY Trading worth RM20 and RM35 respectively. 19 Goods returned by Mutu and Samy worth RM10 and RM50 respectively. 21 Bought delivery van worth RM8,000 on credit from Tan Chong Motor. 24 Paid AB Bhd. RM250 and XY Trading RM400 by cheque. 27 Received a loan of RM500 cash from Amin. 29 Received cheques from Mutu and Samy for RM70 and RM600 respectively. 30 The owner deposited a further RM1,000 into the business bank account.

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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