Prepare the general ledger by using statement format (column) and then record in trial balance as on 30 September 2020. BUSINESS TRANSACTIONThe following are the business transaction of Gin Heng Electrical Sdn. Bhd in September 2020:DateTransactionDocument01/09/2020Invested the business with RM20,000 of capital into Bank in SlipMaybank and RM6,000 as cash in hand.02/09/2020Bought office equipment for business use by cash ReceiptRM1,500.03/09/202020 units of Penasonex air conditioner are bought on Purchase Invoicecredit from Suzie for RM20,000.04/09/2020Eric withdrew cash amount RM500 for personal use.Receipt05/09/2020Purchased 20 units of Khund electrical kettle from Purchase InvoiceJuliana that costs RM100 for each.06/09/2020Sold 16 units of Penasonex air conditioner on credit to Sales InvoiceEconez with amount of RM24,000.09/09/2020Return 4 units of damaged Khund electrical kettle to Debit NoteJuliana. The total amount is RM400.10/09/2020Sold 14 units of Khund electrical kettle on credit for Sales InvoiceRM2,100 to Victor.11/09/2020Gin Heng Sdn. Bhd settled 80% of its account with Suzie Chequeby cheque RM12,960, less 10% discount.12/09/2020Return 3 units of Penasonex air conditioner from Econez Credit Notewith amount RM4,500.13/09/2020Paid utilities of RM1,600 by cash.Payment Voucher14/09/2020Received cash RM8,500 from Econez.Receipt15/09/2020Paid rent expenses to Mr. Chong with RM1,400 by | Chequecheque.16/09/2020Gin Heng Sdn.Bhd settled its account with Juliana by Receiptcash RM7,600.19/09/2020Received sales commission of RM600 by cash.Receipt20/09/2020Withdrew RM1,000 from RHB Bank for business use, in Transaction Slipexchange of cash in hand. DateTransactionDocument22/09/202015 units of LSG television is purchased on credit from Purchase InvoiceJuliana for RM15,000.24/09/2020Commission receive in advance RM150 for year 2021.26/09/2020Rent expenses have been prepaid by RM200 as at 30September 2020.28/09/2020The business paid salary RM1,200 per person to the three Salary Slipworkers by cash.30/09/2020Salaries is accrued by RM300 as at 30 September 2020.Required:a) Prepare general ledger by using statement format (Column). Record the opening balancesfor the accounts as at 1 September 2020.

Rent' A/c Date Particulars Amt (Dr) Date Particulars Amt (Cr) 15-09-2020 To Maybank A/c 1400…

Answered: Prepare the general ledger by using…

Business

Accounting

Prepare the general ledger by using statement format (column) and then record in trial balance as on 30 September 2020.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 52PSA

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