Question 2 The following are the chart of accounts and accounts balances for Aisyah Enterprise on 1 February 2023: Account No Accounts Balance as at 1/2/23(RM) 101 Cash 15,238 102 Accounts receivable 4,575 104 Supplies 427 108 Office equipment 8,400 201 Accounts payable 1,730 301 Capital, Aisyah 26,910 302 Drawings, Aisyah 401 Service revenue 501 Rental expenses 502 Advertisement expenses 503 Utility expenses 509 Sundry expenses Transactions involving Aisyah Enterprise throughout the month of February 2023 are as follows: Date Transactions Feb 1 Purchased office supplies by cash RM274. 2 Aisyah withdrew cash from business totalling RM2,000 for personal use. 5 Received RM2,740 cash from customer for payment on accounts receivable. 9 Purchased office equipment valued at RM4,000 on credit. The seller agreed to give a discount of RM150 from the amount. 15 Made payment to accounts payable for RM1,200. 18 Received cash for services provided for RM580. 25 Paid RM420 to advertise its business in the newspaper. 26 Paid telephone bills (RM75 for Aisyah's house and RM135 for business) and electricity bills (RM42 for Aisyah's house and RM80 for business). All the payments had been made using money from his savings. 27 Paid RM1,200 for rental of business premises. 28 Paid RM220 to repair the office equipment. Required: (a) Prepare the journal entries to record all the above transactions by using the accounts listed in the chart of accounts for Aisyah Enterprise. (b) Post the entries to ledger by using the three column account format. (c) Prepare the trial balance as at 28 February 2023.
Question 2 The following are the chart of accounts and accounts balances for Aisyah Enterprise on 1 February 2023: Account No Accounts Balance as at 1/2/23(RM) 101 Cash 15,238 102 Accounts receivable 4,575 104 Supplies 427 108 Office equipment 8,400 201 Accounts payable 1,730 301 Capital, Aisyah 26,910 302 Drawings, Aisyah 401 Service revenue 501 Rental expenses 502 Advertisement expenses 503 Utility expenses 509 Sundry expenses Transactions involving Aisyah Enterprise throughout the month of February 2023 are as follows: Date Transactions Feb 1 Purchased office supplies by cash RM274. 2 Aisyah withdrew cash from business totalling RM2,000 for personal use. 5 Received RM2,740 cash from customer for payment on accounts receivable. 9 Purchased office equipment valued at RM4,000 on credit. The seller agreed to give a discount of RM150 from the amount. 15 Made payment to accounts payable for RM1,200. 18 Received cash for services provided for RM580. 25 Paid RM420 to advertise its business in the newspaper. 26 Paid telephone bills (RM75 for Aisyah's house and RM135 for business) and electricity bills (RM42 for Aisyah's house and RM80 for business). All the payments had been made using money from his savings. 27 Paid RM1,200 for rental of business premises. 28 Paid RM220 to repair the office equipment. Required: (a) Prepare the journal entries to record all the above transactions by using the accounts listed in the chart of accounts for Aisyah Enterprise. (b) Post the entries to ledger by using the three column account format. (c) Prepare the trial balance as at 28 February 2023.
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 6PB: Indicate how changes in these types of accounts would be recorded (Dr for debit; Cr for credit)....
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Transcribed Image Text:Question 2
The following are the chart of accounts and accounts balances for Aisyah Enterprise on 1
February 2023:
Account No
Accounts
Balance as at
1/2/23(RM)
101
Cash
15,238
102
Accounts receivable
4,575
104
Supplies
427
108
Office equipment
8,400
201
Accounts payable
1,730
301
Capital, Aisyah
26,910
302
Drawings, Aisyah
401
Service revenue
501
Rental expenses
502
Advertisement expenses
503
Utility expenses
509
Sundry expenses
Transactions involving Aisyah Enterprise throughout the month of February 2023 are as follows:
Date
Transactions
Feb 1 Purchased office supplies by cash RM274.
2 Aisyah withdrew cash from business totalling RM2,000 for personal use.
5 Received RM2,740 cash from customer for payment on accounts receivable.
9 Purchased office equipment valued at RM4,000 on credit. The seller agreed to
give a discount of RM150 from the amount.
15 Made payment to accounts payable for RM1,200.
18 Received cash for services provided for RM580.
25 Paid RM420 to advertise its business in the newspaper.
26 Paid telephone bills (RM75 for Aisyah's house and RM135 for business) and
electricity bills (RM42 for Aisyah's house and RM80 for business). All the
payments had been made using money from his savings.
27 Paid RM1,200 for rental of business premises.
28 Paid RM220 to repair the office equipment.
Required:
(a)
Prepare the journal entries to record all the above transactions by using the accounts
listed in the chart of accounts for Aisyah Enterprise.
(b) Post the entries to ledger by using the three column account format.
(c) Prepare the trial balance as at 28 February 2023.
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