Question

Question 1 Khairul started his own business selling stationery, called KHAI Station. The following transactions took place for the second month (April 2019) of his business: Date Transactions 1 April 3 April 5 April 6 April 8 April 12 April Opening balance of cash in hand was RM2,000. Khairul purchased goods on credit from Jojo Shop. The goods worth RM3,500. Khairul brought in additional cash of RM1,000 into the business as capital. Khairul sold some goods on credit to Hanna, with the total amount of RM1,200. Khairul sold another goods on cash term, totaled RM300. Due to limited number of furniture, Khairul had decided to buy a new furniture worth RM800 on credit from Kayu Shop. Khairul borrow money from his father, Johari totalled RM10,000. His father gave him the money by cheque. Khairul took out RM2,500 from bank account and use as cash in hand. Khairul purchased new office equipment for office use on credit from HW Enterprise, worth RM500. Khairul issued a cheque to settle all amount owed to Jojo Shop. Khairul sold goods on credit to Zamhari totalled RM2,300. Purchased another goods by cash RM340. Zamhari returned goods due to bad condition, worth RM300. 15 April 17 April 18 April 20 April 21 April 23 April 24 April 27 April 29 April Khairul took out cash RM400, and goods worth RM270 for personal purpose. Paid electricity bills RM128, water bills RM35, and office telephone bills RM87, all by cash. Paid salary by cash RM600. 30 April Required: a) Record the transaction into the appropriate ledger accounts and balance off all accounts. b) Prepare the trial balance as at 30 April 2019. c) Prepare the final account (before adjustment) for the month ended 30 April 2019.

Answer 1

Date Details April. 1 Capital April.5 Capital April. 8 Sales April. 17 Bank Amount 340 4001 128 35 871 Cash Account Amount Date Details 2000 April. 23 Purchase 1000 April. 27 Drawings 300 April. 29 Electricity 2500 April. 29 Water April. 29 telephone April. 30 Salary April. 30 Balance c/d 5800 Total Capital account Amount Date Details April. 1 Cash 3000 April. 5 Cash 3000 Total 600 4210 Total 5800 Date Details Amount 2000 1000 April. 30 Balance c/d Total 3000

Date Details April. 3 Jojo Shop April. 23 Cash Total Purchase Account Amount Date Details 3500 Drawings 340 April. 30 Balance c/d 3840 Total Amount 270 3570 3840 Date Details April. 20 Bank Total Jojo Shop Account Amount Date Details 3500 April. 3 Purchase 35001 Total Amount 3500 3500

April. 6 Sales Hanna Account 1200 April. 30 Balance c/d 1200 1200 1200 1200 Sales account April. 6 Hanna April. 8 Cash 3800 April. 21 Samhari 3800 300 April. 30 Balance c/d 2300 3800 Loan from Johari account April. 30 Balance c/d 10000 April. 15 Bank 10000 10000 10000 April. 15 Loan from Jo 2500 Bank Account 10000 April. 17 Cash April. 20 Jojo Shop April. 30 Balance c/d 10000 3500 4000 10000

Amount Kayu Shop Date Details Amount Date Details April. 30 Balance c/d 300 April. 12 Furniture 300 300 300 Date Details April. 12 Kayu shop Amount Furniture Amount Date Details 300 April. 30 Balance c/d 300 300 300 Equipment Amount Date Details Amount Date Details April. 18 HW Enterpr 500 April. 30 Balance c/d 5001 500 500

April. 21 Sales 300 2000 2300 samhari Account 2300 April. 24 Sales return April. 30 Balance c/d 2300 sales Return Account Amount Date Details 300 April. 30 Balance c/d 300 Amount Date Details April. 24 Samhari 300 300 April. 27 Cash April. 27 Purchase Drawings Account 400 270 April. 30 Balance c/d 670 670 670 Date Details April. 30 Cash Salary Account Amount Date Details 600 April. 30 Balance c/d 600 Amount 600 600

Amount Date Details April. 29 Cash 128 128 Date Details April. 29 Cash Elecricity Account Amount Date Details 128 April. 30 Balance c/d 128 Water Expense Account Amount Date Details 35 April. 30 Balance c/d 35 Telephone Account Amount Date Details 87 April. 30 Balance c/d 87 Amount 35 35 Amount Date Details April. 29 Cash 87 87

Trial Balance as on 30 April 2019 Nameof Account Debit Credit Cash 4210 Capital 3000 Jojo Shop 0 Purchase 3570 Hanna 1200 Sales 3800 Kayu Shop 3001 Furniture 300 Drawings 670 Loan from Johari 10000 Bank 4000 Equipment 500 HW Enterprise 500 Samhari 2000 Sales return 3001 Salary 600 Electricity 128 Water 35 Office telephone 87 Total 17600 17600

$ $ $ 3,800 Purchases Income Statement for the year ended 30 April 2019 $ 3,570 Sales Less Sales Returns Gross Loss c/d 3570 Total 70 -300 3500 70 3570 600 Total Gross Loss b/d Salary Electricity Water Office telephone Total 128 35 87 Net Loss 920 Total 920 920

$ $ 3000 -920 -670 1410 Non-Current Assets Furniture Equipment Total Non Current Assets Current Assets Hanna Samhari Cash at bank Cash in hand Total Current Assets Balance Sheet as at 30 April 2019 $ Capital 300 Balance as at 1 Jan 500 less Net Loss 800 Less Drawings Capital at the end 1,200 Non-Current Liability 2000 Loan from Johari 4000 Current Liability 4210 HW Enterprise 11,410 Kayu Shop Total Current Liability 12,210 Total Liabilities 10000 10000 500 300 800 Total Assets 12210