Question 5 (15 marks)
Milah started her business on 1st January 20x4. Below are the business transactions
Date
Transactions
Amount $
20x9
Jan-01
Owner contributed into the business
50,000
May-02
Business paid rent by cash
500
Apr-03
Business paid salary by cash
700
May-07
Provided services on account to Lim
10,000
Jun-08
Provided services and collected cash
7,500
Jul-09
Lim paid the business by cash
?
Aug-10
Purchased goods by cash
4,000
Sep-14
Owner withdrew cash for personal use
400
Oct-13
Provided services on account to Ng
24,000
Nov-18
Purchased goods on account from Tim
1,500
Dec-19
Business paid Tim by cash
a) Prepare the double entry for all the transactions. The first one is done for you
Particulars
Dr $
Cr $
1-Jan
Cash
50000
Capital
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