Prepare trial balance for transaction, Accounting Basics

Encik Farid, a sole trader, started his business on 1 May 2010 under the name Farid Enterprise. The following are his business transactions for the month of May

a.  Encik Farid brought in cash RM51,000 and used motor van valued at RM25,000 for business purposes

b.  Opened a business bank account at Maybank and banked in RM45,000 cash

c.  Paid office rental RM1,000 by cheque

d. Purchased office equipment from Gergasi Berhad for RM5,500, paying RM3,000 in cash

e. Paid office rental RM900 cheque

f.  Paid RM1,000 cash on account for office equipment purchased in transaction d

g. RM500 cash was paid for advertising

h. Paid office salaries by cheque RM3,000

i.  Encik Farid withdrew RM1,000 cash for own use

j.  Received commission RM750 by cheque


Prepare Trial Balance as at 31 May 2010 for above transactions.

Posted Date: 3/26/2013 3:22:04 AM | Location : United States

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