QUESTION 1 Azfar Enterprise is a company that sells books and stationeries in Puncak Alam. The following are the business transactions during the month of May 2021. May 2021 IN 2 3 150 12 14 17 20 23 25 31 Details The owner brought cash RM50,000, own display shelves valued at RM10,000 and own computer valued RM 5,000 into the business. The owner opens a current bank account by putting RM 40,000 cash from the business into the account. Received an invoice for books and stationeries purchased worth RM7,000 from Ulmu Pelita Enterprise. Made cash sales RM 15,000. Issued an invoice to Invoke Trading worth RM8,000 for books sold. Paid electricity amounted to RM300 by cheque. Received a debit note RM500 from Invoke Trading due to goods returned. Bought Office equipment from DSOP Sdn. Bhd for RM12,000. Half of the payment was made by cash. The other half will be paid next month. Pay RM 2,500 by cheque to Adverse Effect Ent. due to advertising cost. Paid RM 700 cash for books purchased from Kalam Enterprise. The owner took RM 1,000 cash from cash register to be spend for his son's birthday. Received a cheque from Invoke Trading for the overall amount due after deducting a cash discount of RM200.

QUESTION 1 Azfar Enterprise is a company that sells books and stationeries in Puncak Alam. The following are the business transactions during the month of May 2021. May 2021 IN 2 3 150 12 14 17 20 23 25 31 Details The owner brought cash RM50,000, own display shelves valued at RM10,000 and own computer valued RM 5,000 into the business. The owner opens a current bank account by putting RM 40,000 cash from the business into the account. Received an invoice for books and stationeries purchased worth RM7,000 from Ulmu Pelita Enterprise. Made cash sales RM 15,000. Issued an invoice to Invoke Trading worth RM8,000 for books sold. Paid electricity amounted to RM300 by cheque. Received a debit note RM500 from Invoke Trading due to goods returned. Bought Office equipment from DSOP Sdn. Bhd for RM12,000. Half of the payment was made by cash. The other half will be paid next month. Pay RM 2,500 by cheque to Adverse Effect Ent. due to advertising cost. Paid RM 700 cash for books purchased from Kalam Enterprise. The owner took RM 1,000 cash from cash register to be spend for his son's birthday. Received a cheque from Invoke Trading for the overall amount due after deducting a cash discount of RM200.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter3: The Double-entry Framework

Section: Chapter Questions

Problem 6SEB: TRANSACTION ANALYSIS George Atlas started a business on June 1,20--. Analyze the following...

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