Prepare trial balance for transactions, Cost Accounting

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

Required:

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

Posted Date: 3/19/2013 5:32:00 AM | Location : United States







Related Discussions:- Prepare trial balance for transactions, Assignment Help, Ask Question on Prepare trial balance for transactions, Get Answer, Expert's Help, Prepare trial balance for transactions Discussions

Write discussion on Prepare trial balance for transactions
Your posts are moderated
Related Questions
Kaplan Computers manufactures high end computer systems for the graphics design industry. At the present time, the company makes three computers with the following characteristics

Jp Rhodes started a bowling club called " bowl them over". The following transactions took place 4 March 2012. 1. Bowling LTD transferred R20 000 bank account of the club as an in

I WENT TO MAKE ONE ASSIGNMENT CAN YOU GIVE ME QUOTE OR LINK TO SHARE ASSIGNMENT DETAIL

o locate a store, but the location manager is not sure about the rent method to accept. The mall operator offers the following three options for its retail store rentals: 1. paying

Q. Why communities begin using FCA? There are several reasons why communities start by means of FCA. For instance: • To elucidate more evidently MSW costs to people. • It is

Consider the following information, prepared based on a capacity of 40,000 units: Category Cost per Unit Variable manufacturing costs

Price and Quality Aspect of Variance At this point it is serious to understand that all variance has two aspects, a price aspect and a quantity aspect: these two aspects combi


WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS

Disadvantages of Standard Costing 1. The system of standard costing is very expensive to install : A lot of money is spent in studying output requirements in terms of materia