Please classify the following transactions into the 7 journals in accounting. General JournalSales JournalPurchases JournalReturn Inwards JournalReturn Outwards JournalCash Receipt JournalCash Payment Journal Dec-19TransactionsMr Lee Ah Kaw contributed RM 30,000 cash, bank RM 40,000 and a premise worth RM 30,000 to the businessBought furnitures from Jaya Trading by credit worth RM 5,000Bought books and stationeries on cash worth RM 8,000Purchased merchandise on credit RM 3,500 from Abu PublishersMr Lee Ah Kaw took 5 books worth of RM 100 from his business and gave to his nephewBought a van worth RM 10,000 from Asia Vehicle Sdn. Bhd. by loanSold books and stationeries on credit to Raya Bookshop worth RM 5,500Paid RM350 cash for flyers225678Pay utilities cash RM 300Returned damaged merchandise to Abu Publishers worth RM 500Sold books for cash RM 7,000Paid Abu Publishers for purchases on December 4 by cash1011Owner took RM500 from cash for personal use12Paid Jaya Trading total of the bill using chequeRaya Bookshop returned damaged books worth RM 1,500Paid to Instagram worth rm 100 on credit for online advertisement13141516Received cheque from Raya Bookshop after deducting 5% of cash discount18Paid wages worth RM 2,400 to Ali and Abu by cashBought office equipment using owner's cash worth RM 400Purchased books from Jennifer Enterprise RM 9,000 by creditOwner brought in further cash worth RM 10,000 into the business19202122Sold goods on credit to Alicia Trading worth RM2,5004.

1. General Journal: General journal records all transactions which don't find place in other…

Please classify the following transactions into the 7 journals in accounting. General Journal Sales Journal Purchases Journal Return Inwards Journal Return Outwards Journal Cash Receipt Journal Cash Payment Journal

Please classify the following transactions into the 7 journals in accounting. General Journal Sales Journal Purchases Journal Return Inwards Journal Return Outwards Journal Cash Receipt Journal Cash Payment Journal

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter1: Introduction To Business Activities And Overview Of Financial Statements And The Reporting Process

Section: Chapter Questions

Problem 41P

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1-Jan-21 Starting a business with a cash capital of RM50,000 deposited in the bank. 3-Jan-21 Obtained a loan from Bank Islam Bhd of RM150,000 for business use 9-Jan-21 Bought a van worth RM58,200 on credit from Syarikat Auto Sdn Bhd and the monthly payment is RM693.00 paid on the 30th day of each month. 10-Jan-21 Purchased goods for sale/stock from Syarikat Burung Emas worth RM9,000 by cash transfer. 10-Jan-21 Purchased office equipment worth RM7,000 by cash transfer. 11-Jan-21 Bought a computer worth RM3,000 for shop use by cash transfer. 11-Jan-21 Purchased goods for sale/stock from Han Seng Company worth RM 50,000 on credit 12-Jan-21 Renovation of the shop worth RM46,000 and has paid RM20,000 to Syk Kayu Kayan by check and the rest will be paid next month 12-Jan-21 Purchased goods for sale/stock from Padi Emas Enterprise for RM 30,000 paid by check 13-Jan-21 Purchased from Unggul Sdn Bhd for RM50,000, RM30,000 paid by check and the rest will be paid next month amounting to…
March 1 Caleb tinvesteed P 50,000 cash and P 20,000 equipment to his Kaizen Consultancy Services. 3 Bought P 15,000 equipment from Triple M Co. on credit. 6 Consultancy services rendered on account P 12,000 6 Paid Triple M Co., P5,000 as partial payment of account. 7 Consultancy services rendered for cash P8,000 8 Collected P3,000 from a customer. 10 Received electric bill from Meralco P 2,800. 12 Returned P 1,500 defective equipment to Triple M Co. 13 Caleb withdrew P 9,000 from the company’s bank account and deposited it to his own account. 14 Paid electric bill to Meralco. 15 Caleb withdrew P40,000 for his vacation. 23 Paid Triple M Co.,, in full. 24 Caleb deposited P 14,000 to the company’s bank account. 28 Paid telephone bill for the month P9,600. This bill includes P 6,000 of Caleb’s personal plan. Prepare the General Ledger for the given period. Prepare the Unadjusted Trial Balance
DATE TRANSACTIONS March 1 Caleb tinvesteed P 50,000 cash and P 20,000 equipment to his Kaizen Consultancy Services. 3 Bought P 15,000 equipment from Triple M Co. on credit. 6 Consultancy services rendered on account P 12,000 6 Paid Triple M Co., P5,000 as partial payment of account. 7 Consultancy services rendered for cash P8,000 8 Collected P3,000 from a customer. 10 Received electric bill from Meralco P 2,800. 12 Returned P 1,500 defective equipment to Triple M Co. 13 Caleb withdrew P 9,000 from the company’s bank account and deposited it to his own account. 14 Paid electric bill to Meralco. 15 Caleb withdrew P40,000 for his vacation. 23 Paid Triple M Co.,, in full. 24 Caleb deposited P 14,000 to the company’s bank account. 28 Paid telephone bill for the month P9,600. This bill includes P 6,000 of Caleb’s personal plan. Construct T- Accounts for the Account titles used with the Normal Balance. Prepare the journal entries of Kaizen Consultancy Services for the month of March,…
DATE TRANSACTIONS March 1 Caleb tinvesteed P 50,000 cash and P 20,000 equipment to his Kaizen Consultancy Services. 3 Bought P 15,000 equipment from Triple M Co. on credit. 6 Consultancy services rendered on account P 12,000 6 Paid Triple M Co., P5,000 as partial payment of account. 7 Consultancy services rendered for cash P8,000 8 Collected P3,000 from a customer. 10 Received electric bill from Meralco P 2,800. 12 Returned P 1,500 defective equipment to Triple M Co. 13 Caleb withdrew P 9,000 from the company’s bank account and deposited it to his own account. 14 Paid electric bill to Meralco. 15 Caleb withdrew P40,000 for his vacation. 23 Paid Triple M Co.,, in full. 24 Caleb deposited P 14,000 to the company’s bank account. 28 Paid telephone bill for the month P9,600. This bill includes P 6,000 of Caleb’s personal plan. A. On the transaction summary table, indicate the effect of each transaction on each account, Put "+" if the account has increased or "-" if the account has…
01 January Kirill introduced $17,000 cash and a vehicle (costing $2,000) as capital01 January Purchased a machine by cash, $1,80001 January Received a bank loan principal $2,10002 January Purchased furniture on credit, $2,00017 January Invoiced a customer for services, $1,90021 January Bought goods for cash, $1,40022 January Sold goods on credit, $2,50031 January Accrued wages, $80031 January Paid interest expense, $10Cost of goods available at 31 January is $110, their market value is $140.RequiredPrepare:(iv) a statement of profit or loss (income statement) for the year to date;
01 January Kirill introduced $17,000 cash and a vehicle (costing $2,000) as capital01 January Purchased a machine by cash, $1,80001 January Received a bank loan principal $2,10002 January Purchased furniture on credit, $2,00017 January Invoiced a customer for services, $1,90021 January Bought goods for cash, $1,40022 January Sold goods on credit, $2,50031 January Accrued wages, $80031 January Paid interest expense, $10Cost of goods available at 31 January is $110, their market value is $140.RequiredPrepare:(i) general journal for the transactions;
01 January Kirill introduced $17,000 cash and a vehicle (costing $2,000) as capital01 January Purchased a machine by cash, $1,80001 January Received a bank loan principal $2,10002 January Purchased furniture on credit, $2,00017 January Invoiced a customer for services, $1,90021 January Bought goods for cash, $1,40022 January Sold goods on credit, $2,50031 January Accrued wages, $80031 January Paid interest expense, $10Cost of goods available at 31 January is $110, their market value is $140.RequiredPrepare:(i) general journal for the transactions;(ii) ledger accounts showing descriptions and balances;(iii) a trial balance;
01 On 1 April, the owner decided to start a laundry business. He withdrew R200 000 from personal savings account and deposited it directly into HI-Lo traders bank account 03 HI-Lo Traders obtained a loan of R30 000 with a repayment period of 12 months from invest Bank account 05 Hi-Lo Traders bought equipment from Blue Furnishers for R16 000. Hi-Lo made a payment of 16 000 directly into Hi-Lo bank account 09 A Cash sale amounting to R45 000 was made, the good were originally purchased at a cost of 35 000 13 Hl-Lo traders bought equipment on credit from Risk Furniture for R9000 15 HI-Lo Traders made a direct payment into the bank account of Risk Furnisher to pay their amount of 9000 18 The owner withdrew 1200 from the business to buy his daughter a birthday present 19 Hl-Lo Traders offered a service worth R5000 to Mr Bogus on credit 27 Hl-Lo Traders placed an advertisement in a local newspaper for R350 Payment was only due in…
PROBLEMOn January 1, 20X1, Ms. Yama Ha opened a guitar repair shop called “Guitar Doc”. Thefollowing were the transactions during the year:1. Ms. Yama invested Php 100,000 cash to the business.2. The business purchased supplies worth Php 60,000. Guitar Doc uses the expensemethod.3. Total service fees billed to clients, on account, amounted to Php 400,000.4. Total collections on accounts receivable amounted to Php 270,000.5. Ms. Yama took Php 60,000 cash from the business.6. Total salaries paid amounted to Php 180,000.Additional information:a. Billy Sheehan, one of the debtors, is undergoing financial difficulties. Of the total Php50,000 accounts receivable from Billy Sheehan, only Php 40,000 is sure of collection;Php 10,000 is doubtful.b. Unused supplies at the end of the period amounted to Php 20,000.c. Unpaid employee salaries amounted to Php 30,000.Requirements:a. Provide the journal entries.b. Post the entries to the ledger.c. Prepare the unadjusted trial balance.d. Provide the…
PROBLEMOn January 1, 20X1, Ms. Yama Ha opened a guitar repair shop called “Guitar Doc”. Thefollowing were the transactions during the year:1. Ms. Yama invested Php 100,000 cash to the business.2. The business purchased supplies worth Php 60,000. Guitar Doc uses the expensemethod.3. Total service fees billed to clients, on account, amounted to Php 400,000.4. Total collections on accounts receivable amounted to Php 270,000.5. Ms. Yama took Php 60,000 cash from the business.6. Total salaries paid amounted to Php 180,000.Additional information:a. Billy Sheehan, one of the debtors, is undergoing financial difficulties. Of the total Php50,000 accounts receivable from Billy Sheehan, only Php 40,000 is sure of collection;Php 10,000 is doubtful.b. Unused supplies at the end of the period amounted to Php 20,000.c. Unpaid employee salaries amounted to Php 30,000.
On April 01, 2020 Aneesh started a business with Rs. 10,00,000; other transactions for the month are: April 2 Purchase Furniture for Cash Rs. 70,000. 8 Purchase Goods for Cash Rs. 20,000 and for Credit Rs. 40,000 from Khalid Retail Store. 14 Sold Goods to Khan Brothers Rs. 82,000 and Cash Sales Rs. 55,000. 18 Owner withdrew of worth Rs. 20,000 for personal use. 22 Paid Khalid Retail Store Rs. 15,000. 26 Received Rs. 30,000 from Khan Brothers. 30. Paid Salaries Expense Rs. 62,000. Journalise the above transactions, prepare Ledger accounts and post the balances to a Trial Balance.
N7. Boilermaker House Painting Company incurs the following transactions for September. September 3 Paint houses in the current month for $20,000 on account. September 8 Purchase painting equipment for $21,000 cash. September 12 Purchase office supplies on account for $3,500. September 15 Pay employee salaries of $4,200 for the current month. September 19 Purchase advertising to appear in the current month for $1,000 cash. September 22 Pay office rent of $5,400 for the current month. September 26 Receive $15,000 from customers in (1) above. September 30 Receive cash of $6,000 in advance from a customer who plans to have his house painted in the following month. References Section BreakExercise 2-20 Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6)