JUNE 2017 QUESTION 1 a) Mr Imran is the owner of a business selling computer accessories. His account on January 1, 2016 showed balances as followed: Cash at Bank RM10,000 Cash in Hand RM5,000 Inventory RM25,000The following transactions occurred during January 2016: Jan 3 Purchased furnitures worth RM1,200 and paid by cheque 9 Paid cash RM300 for utility expenses 10 Received cheque RM3,000 from Idaman Enterprise due to the selling of computer accessories 13 Bought computer accessories worth RM1,350 by cheque 21 Mr. Imran contributed his personal cash RM500 for business use 23 Mr Imran withdrew business cash at bank for office use RM1,000 25 Paid Malini Sdn. Bhd. RM530 by cheque after cash discount RM40 26 Received cash RM340 from Man Sdn. Bhd. after allowing him cash discount of RM50 You are required to express the above transactions in a Three Column Cash Book. b) Aufa Khaliesha decided to start a business focusing to sell plastic products on 1st April 2016. During the month, her business had the following transactions: 2016 April 1
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- Winter '17
- Generally Accepted Accounting Principles