Q1 - Mr Ringo Binder commenced trading as a wholesale stationer on 1 May 2017 with a capital of

$5,000 with which he opened a bank account for his business.

During May the following transaction took place:

Date Transactions
2017
May 1 Bought shop fittings and fixtures by cheque from Folder Fitments for $2,000
2 Purchased goods on credit from Staple $650
3 Paid delivery expenses by cheque $50
4 Purchased goods on credit from Green $300
9 Sold goods on credit to Clip $700
10 Received cash sales into bank $200
11 Purchased goods on credit from Kaye $800
12 Sold goods on credit to Hill $580
15 Paid electricity by cheque $200
16 Received cheque from Clip in settlement of his account
18 Sold goods on credit to Nailor $360
19 Rent part of building and received cheque of $600
20 Sent cheque to Staple in settlement in his account
22 Received from Hills $200 on his account
25 Settle the account of Green
26 Drew cheques of $200 for personal use
28 Paid salary to part time worker $320

Task :

1. Record the following transaction in appropriate book of original entry

2. Post the entry to the ledger account
3. Balance off the ledger account
4. Prepare trial balance as at 31 May 2017

Q2 - En.Safwan runs a grocery shop, Idham Sdn Bhd in front of Sekolah Menengah Tun Tuah, Kg
Lapan, Melaka since 1 January 2017.

The following transactions took place during the month.

Date Transaction
Jan Started the business with capital RM 50,000 with which he opened the bank
1 account for his business
5 Paid RM3,000 cheque for premises rental.
7 Received invoice RM35,000 from Haqeem Bhd for goods supplied.
10 Bought furniture RM10,000 by cheque.
11 Sold goods on credit RM 1,000 to Nirman
13 Received cheque RM1,800 for sales
14 Issued invoice to Aishah Trading worth RM5,000 for goods sold to them.
15 Purchased goods on credit from Haslina RM 3,500
16 Received cheque from Aishah Trading RM2,500
17 Paid Haqeem Bhd RM10,000 by cheque
 20 Paid business utility RM 1,400 by cheque
22 Paid salary to his worker, RM 9,000 by cheque
Tasks :

1. Record the foregoing in appropriate books of original entry

2. Post the entries to the ledger account
3. Prepare trial balance as at 31 January 2017

*You are not required to complete any entries in personal account

Q3 - Forever Trading is a business selling souvenirs. The following transactions took place in the
month of September 2019.

Date Transaction
2016
Sept 1 Owner invested cash into the business bank account RM 100,000
3 Purchased a motor van from Lim Motors costing RM 70,000. Deposit of RM
10,000 was paid by cheque and the balance to be paid by installment starting
from next month

6 Received invoices from Amir RM 8,000 and Harriz RM 3,000 for goods purchased
8 Sold goods on credit to Zulaikha RM4,800 and Khaira RM 3,600
15 Issued a debit note for damaged goods returned to Harriz RM 600
20 Received a cheque for rental income of RM 15,000
23 Paid RM 1,200 by cheque for electricity expenses
26 Received a cheque for cash sales amounting to RM 10,000
29 The owner withdraw goods worth RM340 for personal use

Required:
A. Record the above transaction in the relevant ledger accounts
B. Balance off the accounts
C. Prepare trial balance as at 30 September 2019