Tutorial_WK4(1).pdf - FIN2244 \u2013 FINANCIAL ACCOUNTING 1 Tutorial-Journal Ledger(1a What is the double entry to record a credit purchase of RM150 A B C

Tutorial_WK4(1).pdf - FIN2244 u2013 FINANCIAL ACCOUNTING 1...

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FIN2244 – FINANCIAL ACCOUNTING 1 Tutorial-Journal & Ledger (1a) What is the double entry to record a credit purchase of RM150? A Dr. Purchases RM150, Cr. Cash RM150 B Dr. Purchases RM150, Cr. Trade payables RM150 C Dr. Other creditors RM150, Cr. Purchases RM150 D Dr. Purchase returns RM150, Cr. Payables RM150 (1b) DR($) CR($) Furniture 10,000 Stock 5,000 X Y 15,000 15,000 “X” is probably….. A Capital B Capital expenditure C Capital appreciation D Current assets (1c) Double entry bookkeeping is a method used to transfer weekly / monthly totals from books of …(i)… into …(ii)….(Woods, F., 2007, p.120) i) A. Prime entry B. Single entry C. Double entry D. Secondary entry
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ii) A. Journal book B. Sales day book C. nominal / general ledger D. Sales returns day book 2) Journalise the following transactions in the books of Shankar & Co. 2017 RM 1-Jun Started business with cash 60,000 2-Jun Cash paid into bank 30,000 4-Jun Purchased goods from Kamal on credit 10,000 6-Jun Paid to Shiram by cheque 4,920 8-Jun Sale of goods worth RM1,000 to Balram and RM700 to Dhanram on credit.
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