Question 1 Aminah opened a laundry shop on 1 July 2012. During the first month of...

Question 1
Aminah opened a laundry shop on 1 July 2012. During the first month of oeprations, the following are their business transactions:
July 1 Invested RM20,000 cash in the business.
2 Paid RM1,000 cash for store’s rental for the month of July.
3 Purchased washers and dryers for RM25,000 paying RM10,000 in cash and the balance by obtaining a personal loan from a bank.
4 Paid yearly premium of RM1,200 for an insurance policy that relate to employees’ injury.
10 Received bill from “The New Straits Times” for advertising the opening of the laundry shop amounted RM200.
17 Withdrew RM700 cash for personal use.
30 Total cash receipts for the month of July were RM6,200 in total.

Based on the information given above, you are required to prepare the journal, ledger and trial balance as at 31st July 2012.

Solutions

Expert Solution

ekkarill92 answered 1 year ago

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