Reference no: EM132630880
Problem 1: You are required to open the relevant asset and liability accounts as well as the capital accounts to record the following transactions for July 2014 in the records of Siti Saloma.
2014
July 1 Started business with RM 12,000 in cash.
July 2 Paid RM 11,700 of the opening cash into a bank account for the business.
July 5 Bought of?ce furniture on credit from Dream Ent. for RM 1,900.
July 8 Bought a van paying by cheque RM 5,250
July 12 Bought equipment from Perak Man Sdn Bhd on credit RM 2,300.
July 18 Returned faulty of?ce furniture costing RM 120 to Dream Ent.
July 25 Sold some of the equipment for RM 200 cash.
July 26 Paid amount owing to Dream Ent. RM 1,780 by cheque.
July 28 Took RM 130 out of the bank and added to cash.
July 30 M Bakri lent us RM 4,000 - giving us the money by cheque.
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