c) Prepare a trial balance as of 31st January 2017. d) Prepare Income statement &...
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c) Prepare a trial balance as of 31st January 2017.
d) Prepare Income statement & Statement of Retained Earnings as at 31st January 2017
Q21 Mr. Yuen Ming started the business of MING Enterprise on January 1, 2017 with the following assets: Asset Furniture Vehicle Cash in bank The following transactions occured throughout the month of January 2017. (i) Bought goods on credit RM3,500. Paid rent with cheque RM600. Sold goods costing RM800 on credit at RM1,900. (iv) Paid creditor with cheque RM2,850 and received discount RM150. Received cheque from debtor RM1,270. (v) (vi) Owner brought in cash RM3,000 into business deposited into the business bank account. (vii) A cheque received from debtor RM507 returned by bank signed 'Refer drawer'. (viii) Owner withdrew cheque RM610 for personal use. (ix) Business borrowed from bank RM5,000. The money was deposited into the business bank account. You are required to prepare: (a) Accounting Equation Table according to the format as below: RM 3,000 37,000 12,000 Asset Furniture Vehicle Bank Debtor Stock RM RM (b) RM RM RM Liability Creditor Loan Capital RM RM RM SECOND COPY Balance Sheet as at 31st January 2017. Owner's Equity Drawings RM Net Profit RM (34 marks) (26 marks)
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