Reference no: EM132474140

2020 January

Point 1: 1 Initial investment to start the business with RM105,000 cash

Point 2: 2 Put RM90,000 of the cash into a bank account

Point 3: 3 Bought goods for cash RM5,500

Point 4: 4 Bought goods on credit from: Kelly RM800; Smelly RM930; Jelly RM160; Peter RM510

Point 5: 5 Bought stationery on credit from Happy Bhd RM89

Point 6: 6 Sold goods on credit to: ABC RM170; Edwin RM240; Zack RM326; Tank RM204.

Point 7: 8 Rent paid by cheque RM220 10 Bought fixtures & fittings by credit from Wonderful Bhd RM610.

Point 8: 11 Paid salaries in cash RM790.

Point 9: 14 Returned goods to Smelly RM30; Jelly RM42.

Point 10: 15 Bought van by cheque RM6,500.

Point 11: 16 Received loan from Barney by cheque RM2,000.

Point 12: 18 Sales return: ABC RM5; Edwin RM20.

Point 13: 21 Cash sales RM145.

Point 14: 24 Sold goods on credit to Tank RM130, Zack RM410; Blue RM158.

Point 15: 26 Paid the followings by cheque: Smelly RM300; Jelly RM100.

Point 16: 29 Received cheques from Edwin RM300; Zack RM570.

Point 17: 30 Received a further loan from Barney by cash RM500.

Point 18: 30 Received RM158 cash from Blue.

Question (a) Prime Book Entry for the above transactions.

Question (b) Record the transactions in Ledgers and Balance-off the ledgers.

Question (c) Extract a trial balance.