QUESTION 2 The following are the transactions of Hus Cycle Enterprise in May: 1 Started a business with Cash in hand RM1,200 and Cash at bank RM1,100. 2 Purchased goods by cash RM200. 4 Bought goods on credit from Raise Enterprise RM500. 5 Paid rent by cheque RM720. 7 Paid advertising by cash RM330 8 Sold goods to Emas Enterprise on credit RM300. 9 Cash sales RM800. 10 Paid transport by cash RM12. 13 Credit sales to Emas Enterprise RM600. 14 Paid for stationery in cash RM16. 15 Contributed further capital RM3,000 by cheque. 16 Emas Enterprise paid for the amount owed by cheque, provide 2% discount to Emas. 20 Drawing by cheque for personal use RM150. 24 Bought goods on credit from Ally amount RM400. 25 Sold goods on credit to Lisa RM450. 26 Paid Ally by cheque in full settlement of the amount owing, received 5% discount. 28 Paid electricity by cash RM120. 30 Transferred cash from office to bank RM500. 30 Credit purchase from Nissa Co RM300. 31 Refunded cash to Nissa for damage goods amounted RM20 31 Bought machinery by cheque RM300 31 Paid Nissa a cheque as a settlement of full outstanding balance. 31 Emas Enterprise sent us a cheque for RM500. Required: Enter the above transactions into a three-column Cash Book.
QUESTION 2 The following are the transactions of Hus Cycle Enterprise in May: 1 Started a business with Cash in hand RM1,200 and Cash at bank RM1,100. 2 Purchased goods by cash RM200. 4 Bought goods on credit from Raise Enterprise RM500. 5 Paid rent by cheque RM720. 7 Paid advertising by cash RM330 8 Sold goods to Emas Enterprise on credit RM300. 9 Cash sales RM800. 10 Paid transport by cash RM12. 13 Credit sales to Emas Enterprise RM600. 14 Paid for stationery in cash RM16. 15 Contributed further capital RM3,000 by cheque. 16 Emas Enterprise paid for the amount owed by cheque, provide 2% discount to Emas. 20 Drawing by cheque for personal use RM150. 24 Bought goods on credit from Ally amount RM400. 25 Sold goods on credit to Lisa RM450. 26 Paid Ally by cheque in full settlement of the amount owing, received 5% discount. 28 Paid electricity by cash RM120. 30 Transferred cash from office to bank RM500. 30 Credit purchase from Nissa Co RM300. 31 Refunded cash to Nissa for damage goods amounted RM20 31 Bought machinery by cheque RM300 31 Paid Nissa a cheque as a settlement of full outstanding balance. 31 Emas Enterprise sent us a cheque for RM500. Required: Enter the above transactions into a three-column Cash Book.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter2: Analyzing Transactions Into Debit And Credit Parts
Section: Chapter Questions
Problem 3AP
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QUESTION 2
The following are the transactions of Hus Cycle Enterprise in May:
1 Started a business with Cash in hand RM1,200 and Cash at bank RM1,100.
2 Purchased goods by cash RM200.
4 Bought goods on credit from Raise Enterprise RM500.
5 Paid rent by cheque RM720.
7 Paid advertising by cash RM330
8 Sold goods to Emas Enterprise on credit RM300.
9 Cash sales RM800.
10 Paid transport by cash RM12.
13 Credit sales to Emas Enterprise RM600.
14 Paid for stationery in cash RM16.
15 Contributed further capital RM3,000 by cheque.
16 Emas Enterprise paid for the amount owed by cheque, provide 2% discount to Emas.
20 Drawing by cheque for personal use RM150.
24 Bought goods on credit from Ally amount RM400.
25 Sold goods on credit to Lisa RM450.
26 Paid Ally by cheque in full settlement of the amount owing, received 5% discount.
28 Paid electricity by cash RM120.
30 Transferred cash from office to bank RM500.
30 Credit purchase from Nissa Co RM300.
31 Refunded cash to Nissa for damage goods amounted RM20
31 Bought machinery by cheque RM300
31 Paid Nissa a cheque as a settlement of full outstanding balance.
31 Emas Enterprise sent us a cheque for RM500.
Required:
Enter the above transactions into a three-column Cash Book .
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