ACCOUNTING BOOKS SYSTEMS(EDIT).pptx - ACCOUNTIN G BOOKS APEX ENTE RPRISE I LOVE ACCOUNTING LETS START LEARN HOW TO POSTING REMEMBER ACCOUNTING CYCLE

ACCOUNTING BOOKS SYSTEMS(EDIT).pptx - ACCOUNTIN G BOOKS...

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ACCOUNTING BOOKS APEX ENTERPRISE
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LET’S START LEARN HOW TO POSTING!!! I LOVE ACCOUNTING
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REMEMBER ACCOUNTING CYCLE???
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BEFORE THAT LET’S RECAP BACK!!! PURCHASES ASSETS DRAWINGS EXPENSES LIABILITIES OWNER’S EQUITY REVENUES SALES DEBIT CREDIT CREDIT DEBIT DEBIT CREDIT
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QUESTIONMiss Andrea, the owner of Apex Enterprise started business on 1 April 2017. Main operation of Apex Enterprise is selling electrical appliances in area of Malacca City. You are required to:(a) Record the transactions in the Book of First Entry.(10marks)(b) Post the entries to relevant ledger account(10 marks)(c) Prepare the Trial Balance as at 30 April 2017.(5 marks)DATETRANSACTIONS2017April 1Started a business with cash at bank RM 100,000, cash in hand RM 5,000, van RM 8,000 & loan from Bank Rakyat RM 50,0005Purchased 10 unit of LED television from Panasonic Sdn Bhd amounted to RM 45,0008Purchased display furniture from IKEA worth RM 800, paid by cash12Sold 30 unit of rice cookers to Dynamic Enterprise worth RM 10,00015Dynamic Enterprise returns 2 unit of misfunctional items worth RM 80017Received cash RM 2,500 on sales goods to Mrs Niyu20Andrea took Faber Microwave Oven worth RM 450 for personal used23Andrea brought in her computer RM 3,000 from home to office for business used25Paid worker salary by cheque amounted to RM 3,50027Paid installment on loan to Bank Rakyat RM 1000 by cheque30Paid water & electricity bill by cash RM 500
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SOLUTION DATE TRANSACTIONS BOOK OF FIRST ENTRY 2017 April 1 Started a business with cash at bank RM 100,000, cash in hand RM5,000, van RM 8,000 & loan from Bank Rakyat RM 50,000 GENERAL JOURNAL & CASH BOOK 5 Purchased 10 unit of LED television from Panasonic Sdn Bhd amounted to RM45,000 PURCHASE JOURNAL 8 Purchased display furniture from IKEA worth RM800, paid by cash CASH BOOK (CT) 12 Sold 30 unit of rice cookers to Dynamic Enterprise worth RM10,000 SALES JOURNAL 15 Dynamic Enterprise returns 2 unit of misfunctional items worth RM800 SALES RETURN JOURNAL 17 Received cash RM2,500 on sales goods to Mrs Niyu CASH BOOK (DT) 20 Andrea took Faber Microwave Oven worth RM450 for personal used GENERAL JOURNAL 23 Andrea brought in her computer RM3,000 from home to office for business used GENERAL JOURNAL 25 Paid worker salary by cheque amounted to RM3,500 CASH BOOK (CT) 27 Paid installment on loan
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