Question

UR Trading has started a new business selling stationaries. The following transactions took place during the month of January 20X1

No	Date	Transaction	RM
1	3 Jan	Invested cash in business	100,000
2	5 Jan	Purchase goods on credit term from Pemadam Unggul Trading	20,000
3	11 Jan	Credit sales to En Thiri	25,000
4	17 Jan	Purchase furniture on cash	10,000
5	31 Jan	Provide provision for doubtful debt for En Thiri @10% due to his shop burn	2,500

1. Record and close the above transactions in an appropriate ledger account for the period ended 31 January 20X1. 2. Prepare the trial balance.

please help me..

Answer 1

2.

UR Trading
Trial Balance
For the Month Ended January 20X1
	Debit	Credit
Cash	90,000
Capital / Common Stock		100,000
Purchases	20,000
Accounts Payable		20,000
Revenue		25,000
Accounts Receivable	25,000
Furniture	10,000
Bad Debt Expense	2,500
Provision for Doubtful Allowance		2,500
Total	147,500	147,500

1.

Cash
Date	Particular	Amount	Date	Particular	Amount
Jan 3	Common Stock	100000	Jan 17	Furniture	10000
			Jan 31	Balance	90000
		100000			100000
Purchases
Date	Particular	Amount	Date	Particular	Amount
Jan 5	Accounts Payable	20000
			Jan 31	Balance	20000
		20000			20000
Revenue
Date	Particular	Amount	Date	Particular	Amount
Jan 11	Accounts Receivable	25000
			Jan 31	Balance	25000
		25000			25000
Bad Debt Expense
Date	Particular	Amount	Date	Particular	Amount
Jan 31	Provision for Doubtful Allowance	2500
			Jan 31	Balance	2500
		2500			2500
Furniture
Date	Particular	Amount	Date	Particular	Amount
Jan 17	Cash	10000
			Jan 31	Balance	10000
		10000			10000

Common Stock
Date	Particular	Amount	Date	Particular	Amount
Jan 31	Balance	100000	Jan 3	Cash	100000
		100000			100000
Accounts Payable
Date	Particular	Amount	Date	Particular	Amount
Jan 31	Balance	20000	Jan 5	Purchases	20000
		20000			20000
Accounts Receivable
Date	Particular	Amount	Date	Particular	Amount
Jan 31	Balance	25000	Jan 11	Revenue	25000
		25000			25000
Provision for Doubtful Allowance
Date	Particular	Amount	Date	Particular	Amount
Jan 31	Balance	2500	Jan 31	Bad Debt Expense	2500
		2500			2500

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