Question

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

Answer 1

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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