Question 1:
The transactions below were carried out by Waiz sdn bhd for the month of Jun 2015.
1. Started business with RM15,000 cash and a Van valued at RM25,000.
2. Deposited RM10,000 cash into business bank account.
2. Bought goods on credit from saloma Sdn Bhd for RM2,500 and paid by cash RM500. The balance will be paid next month.
5. Cash sales of RM5,000.
7. Issued a debit note for damaged goods returned to saloma sdn Bhd amounted RM400.
9. Paid sundry expenses of RM200 by cheque.
10. Received invoices from Amir for goods purchased RM900.
11. Sold goods on credit to Mariam worth RM500.
13. Paid transportation charges RM200 by cash for goods delivered to customers.
16. Paid wages amounting to RM180 by cash.
21. Paid Amir for amount due by cash RM600.
26. Received cheque from Kencana Bhd for investment income of RM10,000.
27 Received a loan of RM1,500 from Al Amna Bank.
28. The owner withdrew goods worth RM300 for personal use.
You are required to:
a. Open ledger accounts to record the above transactions.
b. Prepare the Trial Balance as at 30 Jun 2015.
c. Prepare the Trading and Profit and Loss Account for month ended 30 Jun 2015.
d. Prepare the Statement of Financial Position as at 30 Jun 2015.