User Account

All Pages

Record the transactions in the relevant ledger accounts

Assignment Help Accounting Basics
Reference no: EM132614080

Sweet Memories Enterprise is a business selling souvenirs. The following transactions took place in the month of September 2019.

Date            Transactions

Sept 1

Owner invested cash into the business bank account RM100,000

Sept 3

Purchased a motor van from Ben Motors costing RM70,000 on credit

Sept 6

Purchased goods on cash from Alia RM8,000 and Helen RM3,000

Sept 8

Sold goods on credit to Zu Enterprise RM4,800 and Khaira RM3,600

Sept 15

Returned damaged good to Helen RM600

Sept 20

Pelangi Berhad lend the business RM15,000 and deposit the money in bank

Sept 23

Paid RM1,200 to Tenaga Nasional Berhad for Electricity expense

Sept 26

Received a cheque for cash sales amounting to RM10,000

Sept 29

The owner withdrew cash M340 for personal use

Required:

Question a. Record the above transactions in the relevant ledger accounts

Question b. Provide a trial balance as at 30 September 2019

Reference no: EM132614080

Questions Cloud

What was the over or underapplied factory overhead : Justine Company budgeted overhead costs at 180,000 for the current period. What was the over or underapplied factory overhead for the period
Interest rate swaps : What would be the cash flows of each company if they enter into a SWAP?
How compression methodologies may affect experience : From the information discussed in this week's lecture, identify three or more data and communication types that you use regularly. The examples may be from.
Calculate working capital in days of sales : Assuming zero VAT, calculate working capital in days of sales. The production cycle lasts one month, which means that in-progress inventories
Record the transactions in the relevant ledger accounts : Record the transactions in the relevant ledger accounts. Sweet Memories Enterprise is a business selling souvenirs, transactions took place in the month
Describe three differences between bonds and shares : Describe three differences between bonds and shares.
Discuss reasons for carefully considering long-term decision : Discuss three reasons for carefully considering long-term decisions, and describe three examples of how a poor decision in these areas might affect.
Two disadvantages of investing in shares : Discuss two advantages and two disadvantages of investing in shares.
How do you go about valuing common stocks : How do you go about valuing common stocks?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd