Question

In: Accounting

March 5 Purchase stock from Febreeze Bhd. at a price of RM1,000 cash. March 6 Purchase...

March 5 Purchase stock from Febreeze Bhd. at a price of RM1,000 cash.

March 6 Purchase inventory from Febreeze Bhd. at a price of RM5,000 on credit.

March 7 Purchase stock from Febreeze Bhd. at a price of RM1,000 cash and RM5,000 on credit.

4. Providing services/ Sales
April 8 Provide services to UPM for RM2,000, on account.

April 9 Provide services to UKM for RM1,000 cash

April 10 Provide services to USM for RM2,000, on account and RM1,000 cash

or
April 8 Sales to UPM for RM2,000, on account.

April 9 Sales to UKM for RM1,000 cash

April 10 Sales to USM for RM2,000, on account and RM1,000 cash

5. Drawings
May 11 Mr. Razak took a few cleaning supplies costing RM500 for his personal use.

May 12 Mr. Razak took RM1,000 cash for his personal use.

May 13 Mr. Razak took a few cleaning supplies costing RM500 and RM1,000 for his personal use.

6. Receiving Payment
June 14 Received cash from UPM RM2,000 for the service provided on March 3

June 15 Received RM12,000 from NAEILA Express for the rental fees

7. Making Payment
July 16 Pay salaries RM1,000.

July 17 Pay Febreeze Bhd. for the purchase made on May 6 RM5,000.

July 18 Pay RM5,000 Jujaya Sdn. Bhd. for the settlement of credit purchase on February 2.

1. Accounting Equation
2. General Journal

Solutions

Expert Solution

1. Accounting Equation

Assets = Liability + Capital
S.No. Transaction Cash Receivable Stock = Liability + Capital
March 5 Purchase stock from Febreeze Bhd. at a price of RM 1,000 cash.    (1,000.00)      1,000.00 = +
March 6 Purchase inventory from Febreeze Bhd. at a price of RM5,000 on credit.      5,000.00 =      5,000.00 +
March 7 Purchase stock from Febreeze Bhd. at a price of RM1,000 cash and RM5,000 on credit.    (1,000.00)      6,000.00 =      5,000.00 +
4. Providing services/ Sales = +
April 8 Provide services to UPM for RM2,000, on account      2,000.00 = +      2,000.00
April 9 Provide services to UKM for RM1,000 cash      1,000.00 = +      1,000.00
April 10 Provide services to USM for RM2,000, on account and RM1,000 cash      1,000.00      2,000.00 = +      3,000.00
5. Drawings = +
May 11 Mr. Razak took a few cleaning supplies costing RM500 for his personal use.       (500.00) = +       (500.00)
May 12 Mr. Razak took RM1,000 cash for his personal use    (1,000.00) = +    (1,000.00)
May 13 Mr. Razak took a few cleaning supplies costing RM500 and RM1,000 for his personal use.    (1,000.00)       (500.00) = +    (1,500.00)
6. Receiving Payment = +
June 14 Received cash from UPM RM2,000 for the service provided on March 3      2,000.00    (2,000.00) = +
June 15 Received RM12,000 from NAEILA Express for the rental fees    12,000.00 = +    12,000.00
7. Making Payment = +
July 16 Pay salaries RM1,000.    (1,000.00) = +    (1,000.00)
July 17

Pay Febreeze Bhd. for the purchase made on May 6 RM5,000.

   (5,000.00) =    (5,000.00) +
July 18 Pay RM5,000 Jujaya Sdn. Bhd. for the settlement of credit purchase on February 2.    (5,000.00) =    (5,000.00) +
Accounting Equation      1,000.00      2,000.00    11,000.00 =                   -   +    14,000.00

2. General Journal

S.No. General Journal Debit Credit Transaction
March 5 Purchase      1,000.00 Purchase stock from Febreeze Bhd. at a price of RM 1,000 cash.
Cash      1,000.00
March 6 Inventory      5,000.00 Purchase inventory from Febreeze Bhd. at a price of RM5,000 on credit.
Accounts Payable      5,000.00
March 7 Purchase      6,000.00 Purchase stock from Febreeze Bhd. at a price of RM1,000 cash and RM5,000 on credit.
Accounts Payable      5,000.00
Cash      1,000.00
4. Providing services/ Sales
April 8 Accounts Receivable      2,000.00 Provide services to UPM for RM2,000, on account
Sales Revenue      2,000.00
April 9 Cash      1,000.00 Provide services to UKM for RM1,000 cash
Sales Revenue      1,000.00
April 10 Cash      1,000.00 Provide services to USM for RM2,000, on account and RM1,000 cash
Accounts Receivable      2,000.00
Sales Revenue      3,000.00
5. Drawings
May 11 Drawing A/c          500.00 Mr. Razak took a few cleaning supplies costing RM500 for his personal use.
Stock A/c          500.00
May 12 Drawing A/c      1,000.00 Mr. Razak took RM1,000 cash for his personal use
Cash      1,000.00

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