Q.
Record the following details relating to a small laundry shop for the month of May 2011. Then, balance off the accounts and extract a trial balance as at 31 May 2011.
May 2011 ------- Transactions
1 --- Started in business with capital in cash of RM1,000 and RM2,500 in the bank.
2 --- Bought goods on credit from the following persons:-
Andy RM620
Ricky RM215
Vito RM175
Alex RM340
Eric RM540
4 --- Sold goods on credit to:-
Jay RM350
Google RM850
Fin RM1,150
6 --- Paid rent by cash RM200
9 --- Jay paid us his account by cheque RM350
10 --- Fin paid us RM1,000 by cheque
12 --- We paid the following by cheque:-
Vito RM175
Andy RM620
15 --- Paid carriage by cash RM35
18 --- Bought goods on credit from:-
Ricky RM290
Alex RM920
21 --- Sold goods on credit to Google RM810
31 --- Paid rent by cheque RM230
(20 marks, 2012 Q3)
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