Homework Help is Here – Start Your Trial Now!
Business
Accounting
Amanda trading was set up in January 2023. The following are the transactions for the month of March 2023. a) Date 1 b) 3 4 7 9 11 12 14 18 18 20 22 24 27 Transaction Amanda started business with a motor vehicle valued at RM65,000 and cash RM35,000 The business purchased goods worth RM2.500 on credit from Tiaw Enterprise The business made a cash payment of RM100 for transport of goods purchased from Tiaw Enterprise. The business purchased office furniture on credit from Perabot Nyaman amounted RM12,500 The business banked-in cash RM5,000 The business sold goods to Alur Enterprise on credit amounted RM3,500 Tiaw Enterprise has issued a credit note amounted of RM350 for goods returned due to wrong specification Amanda, the owner withdrew RM200 goods for his personal use. The business sold goods worth RM950 in cash from QPR Trading The business paid off its debt to Tiaw Enterprise for full settlement by electronic funds transfer and received a 5% discount. The business has issued a credit note of RM450 to Alur enterprise was for the return of spoilt goods. Required: Using the format below, answer the following questions: Date 8. Effects Increase Amanda invested RM10.500 in a fixed deposit by cheque. The business paid utilities expenses RM350 by cash The business received full payment from Alur Enterprise for the amount due The sum was deposited into the business's bank account. Decrease b. Double Entry Debit Credit Identify the effects (increase or decrease) on assets, liabilities, revenues, expenses or capital for the above transactions. Show the accounts to be debited and credited for the above transactions.

Amanda trading was set up in January 2023. The following are the transactions for the month of March 2023. a) Date 1 b) 3 4 7 9 11 12 14 18 18 20 22 24 27 Transaction Amanda started business with a motor vehicle valued at RM65,000 and cash RM35,000 The business purchased goods worth RM2.500 on credit from Tiaw Enterprise The business made a cash payment of RM100 for transport of goods purchased from Tiaw Enterprise. The business purchased office furniture on credit from Perabot Nyaman amounted RM12,500 The business banked-in cash RM5,000 The business sold goods to Alur Enterprise on credit amounted RM3,500 Tiaw Enterprise has issued a credit note amounted of RM350 for goods returned due to wrong specification Amanda, the owner withdrew RM200 goods for his personal use. The business sold goods worth RM950 in cash from QPR Trading The business paid off its debt to Tiaw Enterprise for full settlement by electronic funds transfer and received a 5% discount. The business has issued a credit note of RM450 to Alur enterprise was for the return of spoilt goods. Required: Using the format below, answer the following questions: Date 8. Effects Increase Amanda invested RM10.500 in a fixed deposit by cheque. The business paid utilities expenses RM350 by cash The business received full payment from Alur Enterprise for the amount due The sum was deposited into the business's bank account. Decrease b. Double Entry Debit Credit Identify the effects (increase or decrease) on assets, liabilities, revenues, expenses or capital for the above transactions. Show the accounts to be debited and credited for the above transactions.

Century 21 Accounting General Journal
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter24: Recording International And Internet Sales
Section: Chapter Questions
Problem 1MP
See similar textbooks
icon
Related questions
Topic Video
Question
100%
Amanda trading was set up in January 2023. The following are the transactions for the month of March 2023. a) Date 1 b) 3 4 7 9 11 12 14 16 18 20 22 24 27 Transaction Amanda started business with a motor vehicle valued at RM65,000 and cash RM35,000 The business purchased goods worth RM2,500 on credit from Tiaw Enterprise The business made a cash payment of RM100 for transport of goods purchased from Tiaw Enterprise. The business purchased office furniture on credit from Perabot Nyaman amounted RM12,500 The business banked-in cash RM5,000 The business sold goods to Alur Enterprise on credit amounted RM3,500 Tiaw Enterprise has issued a credit note amounted of RM350 for goods returned due to wrong specification Amanda, the owner withdrew RM200 goods for his personal use. The business sold goods worth RM950 in cash from QPR Trading The business paid off its debt to Tiaw Enterprise for full settlement by electronic funds transfer and received a 5% discount. Required: Using the format below, answer the following questions: Date Effects The business has issued a credit note of RM450 to Alur enterprise was for the return of spoilt goods. Amanda invested RM10,500 in a fixed deposit by cheque. The business paid utilities expenses RM350 by cash The business received full payment from Alur Enterprise for the amount due. The sum was deposited into the business's bank account. Increase Decrease b. Double Entry Debit Credit Identify the effects (increase or decrease) on assets, liabilities, revenues, expenses or capital for the above transactions. Show the accounts to be debited and credited for the above transactions.
Transcribed Image Text:Amanda trading was set up in January 2023. The following are the transactions for the month of March 2023. a) Date 1 b) 3 4 7 9 11 12 14 16 18 20 22 24 27 Transaction Amanda started business with a motor vehicle valued at RM65,000 and cash RM35,000 The business purchased goods worth RM2,500 on credit from Tiaw Enterprise The business made a cash payment of RM100 for transport of goods purchased from Tiaw Enterprise. The business purchased office furniture on credit from Perabot Nyaman amounted RM12,500 The business banked-in cash RM5,000 The business sold goods to Alur Enterprise on credit amounted RM3,500 Tiaw Enterprise has issued a credit note amounted of RM350 for goods returned due to wrong specification Amanda, the owner withdrew RM200 goods for his personal use. The business sold goods worth RM950 in cash from QPR Trading The business paid off its debt to Tiaw Enterprise for full settlement by electronic funds transfer and received a 5% discount. Required: Using the format below, answer the following questions: Date Effects The business has issued a credit note of RM450 to Alur enterprise was for the return of spoilt goods. Amanda invested RM10,500 in a fixed deposit by cheque. The business paid utilities expenses RM350 by cash The business received full payment from Alur Enterprise for the amount due. The sum was deposited into the business's bank account. Increase Decrease b. Double Entry Debit Credit Identify the effects (increase or decrease) on assets, liabilities, revenues, expenses or capital for the above transactions. Show the accounts to be debited and credited for the above transactions.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
SEE MORE TEXTBOOKS