Cheng is a sole trader who records all his cash and bank transactions in a cash book. At 30 April 2020, his cash in hand and cash at bank were RM5,000 and RM10,500 respectively. The following are the transaction for the month of May 2020:
Date | Transactions |
3 May | Cash sales RM3,050 directly banked in |
6 May | Paid utilities of RM550 by cheque. |
8 May | Bought goods RM3,000 from Green on credit. |
10 May | Issued a cheque for RM1,200 in respect of his bookkeeper’s salary. |
13 May | Sold goods on credit to Annie for RM4,800. |
15 May | Paid RM150 in cash for office expenses |
19 May | Issued a cheque RM600 for his personal car loan |
22 May | Withdrew RM200 from bank for office use. |
24 May | Brought in the business a further capital of RM1,000 cash |
25 May | Purchased a second-hand delivery van for RM15,000. A deposit of RM3,000 has been paid by cheque while the remaining is repayable in the following month. |
26 May | Received a cheque for RM5,000 from his brother, Tom for a three-year loan |
27 May | Sold goods of RM450 and received cash. |
27 May | Sold goods of RM450 and received cash. |
28 May | Paid road tax and insurance on delivery van of RM850 by cheque. |
29 May | Transferred office cash RM1,500 to bank. |
30 May | Received a cheque from Annie for full settlement |
30 May | Paid Slyvia in settlement of outstanding invoice of RM4,500 with cheque |
31 May |
Received a cheque RM1,755 from Desmond, after deducting RM45 cash discount. |
31 May | Paid Green in full settlement of outstanding invoice with cheque, less 3% cash discount. |
Required: Record the above transactions into ledger: Bank Account
Since only Bank account ledger is asked, Please find below -
Ledger : Bank Account | |||||
Dr | Cr | ||||
Date | Particular | Amount (RM) | Date | Particular | Amount (RM) |
1-May | To Balance b/d | 10,500 | |||
3-May | To Cash a/c | 3,050 | 6-May | By Utilities a/c | 550 |
26-May | To Tom (Loan) a/c | 5,000 | 10-May | By Bookkeeper's salary a/c | 1,200 |
29-May | To Cash a/c | 1,500 | 19-May | By Personal expense a/c | 600 |
30-May | To Annie a/c | 4,800 | 22-May | By Cash a/c | 200 |
31-May | To Desmond a/c | 1,755 | 25-May | By security deposit (car) a/c | 3,000 |
28-May | By Car a/c | 850 | |||
30-May | By Slyvia a/c | 4,500 | |||
31-May | By Green a/c | 2,910 | |||
31-May | By Balance c/d | 12,795 | |||
Total | 26,605 | Total | 26,605 |
Cheng is a sole trader who records all his cash and bank transactions in a cash...
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