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Journals Exercises

Question 1

2012:
Jan 1 Motor vehicle RM11,000; Inventory RM7,000 ; cash in hand RM4,000 Liabilities : overdraft bank RM2,000.

2 Paid stationery by cash RM600

3 Goods sold on credit to Anas RM3,000 and Amar RM3,500

4 Goods bought on credit from Borhan RM3,000 and Bakar RM3,500

5 Good return by Anas RM100 and Amar RM200 to the business

6 Electricity bill paid by cash RM200

7 Bought fixtures and fitting for RM10,000 on credit from Asoka Trading.

10 Goods return to Bakar RM200.

15 Cash drawing by the owner RM310

17 Bought goods on credit from Asmahani RM2,000

18 Paid insurance by cheque RM400

20 Paid rent by cheque RM6,000

22 Sold goods on credit : Ani RM 4,500; Azlani RM3,500; Abu RM1,500

23 Bought goods RM700 on credit from Ah Seng

24 Return goods to Ah Seng RM200

25 Goods return by Ani RM100 and Azlani RM200.

Required:

Record all the above transactions in the related journal.

Question 2
Mr. Handsome commenced business on April 2012. The following transactions took place during the first month.

Apr
1
Cash in Hand RM2,000
Cash at Bank RM15,000
Fixtures & Fittings RM25,000
Loan RM15,000

3
Bought goods worth RM1,250 cash from Mr. Denzel.

4
Purchased goods worth RM2,100 on credit from Deja Vu Enterprise.

6
Received cheque worth RM6,000 from customer.

8
Sent Invoice valued RM7,500 to Prime Enterprise with 15 days term.

11
Issued cheque to settle the following administrative expenses:
Electricity RM300
Quit Rent RM250
Water RM400

14
Sent invoices with 15 days term to Asri & Associates and Amir Enterprise worth RM890 and RM760 respectively.

16
Asri & Associates and Amir Enterprise returned damaged goods worth RM150 and RM250 respectively.

17
Issued cheque worth RM20,000 to Jelebu Motors for the