Answer Happy

QUESTION 2 (20 MARKS) (a) Mr Zarid, a watch dealer, set up a shop by the name Syarikat Zn Watch Sdn Bhd on 1 March 2021. He brought in cash RM100,000 and a used car, valued at RM30,000 for business use. The following financial transactions occurred in the month of March 2021. March Opened a current account at Maybank and banked in office cash RM80,000 1 3 Paid RM1000 being rental of the shop by cheque. Bought shop fittings worth RM5,000 from Talita Furnishing Centre; paid by cheque. 4 Invoice received from : Zenith Bhd. List price RM8,200, trade discount 2% Seiko Bhd. List price RM9,800, trade discount 1% 6 Cash sales of RM750, paid to bank 10 Received RM50 in cash from the customer for watch repairs Received a credit note from Zenith Bhd for a goods returned; listed price RM600. 17 Credit sale worth RM2,400 to Mr Ahmar 19 Purchased a van for RM27,500 on credit from Lee Used Car Sdn Bhd and paid RM2,000 by cheque for installing air-condition unit in the van 22 The owner took a watch at a cost of RM450 and give it as a present to his son. 24 Received a cheque from Mr Ahmar as settlement of his account after deducting 2% discount. 27 Paid RM210 in cash for office expenses. 13 REQUIRED: Journalise the above transactions. (20 marks)