B1 Bakun Enterprise owns a small bottle shop in SS15, Subang. The following transactions were extracted from the book on
Posted: Sun Jun 05, 2022 9:08 pm
B1
Bakun Enterprise owns a small bottle shop in
SS15, Subang. The following transactions were extracted from the
book on 30 September 2021:
2019
Sept
2 Mr. Bakun,
the owner, invested RM40,000 in the bank and RM5,000 cash
to start the business.
3 Paid rent
RM5,000 by cheque.
6 Bought
goods RM50,152 on credit from PPT Bottle.
9 Bought
office equipment RM20,500 on credit from Show Tool.
13 Returned goods RM1,500
to PPT Bottle.
15 Sold goods RM2,120 on
credit to Kent Trading.
23 Received goods
RM100 returned by Kent Trading.
29 Paid electricity bill
RM300 through bank transfer.
30 Paid RM5,000 to
owner for his personal use through bank transfer.
Required:
(a) Enter above transactions
into ledger (T-accounts) and balance off the
account.
(15 marks)
(b) Prepare a trial balance
as at 30 September
2021
( 4 marks)
B2
Explain the importance of current assets to a sole proprietor
.
( 6
marks)
(Total=25 marks)
Bakun Enterprise owns a small bottle shop in
SS15, Subang. The following transactions were extracted from the
book on 30 September 2021:
2019
Sept
2 Mr. Bakun,
the owner, invested RM40,000 in the bank and RM5,000 cash
to start the business.
3 Paid rent
RM5,000 by cheque.
6 Bought
goods RM50,152 on credit from PPT Bottle.
9 Bought
office equipment RM20,500 on credit from Show Tool.
13 Returned goods RM1,500
to PPT Bottle.
15 Sold goods RM2,120 on
credit to Kent Trading.
23 Received goods
RM100 returned by Kent Trading.
29 Paid electricity bill
RM300 through bank transfer.
30 Paid RM5,000 to
owner for his personal use through bank transfer.
Required:
(a) Enter above transactions
into ledger (T-accounts) and balance off the
account.
(15 marks)
(b) Prepare a trial balance
as at 30 September
2021
( 4 marks)
B2
Explain the importance of current assets to a sole proprietor
.
( 6
marks)
(Total=25 marks)