Answer Q2

Capital July 31 Bal c/d 40,000 July 1 Bank 30,000

2 Cash 10,000

40,000 40,0001 Aug Bal b/d 40,000

Office Furniture July 3 Bank 6,000 July 31 Bal c/d 20,000 3 Fella Design 14,000

20,000 20,0001 Aug Bal b/d 20,000

Ac payable- Fella DesignJuly 31 Bal c/d 14,000 July 3 Office Furniture 14,000

14,000 14,000

1 Aug Bal b/d 14,000

SalesJuly 31 Bal c/d 2,950 July 5 Cash 2,000

6 K.A Enterprise 950

2,950 2,9501 Aug Bal b/d 2950

Ac receivable-K.A EnterpriseJuly 6 Sales 950 July 31 Bal c/d 950

950 9501 Aug Bal b/d 950

PurchasesJuly 7 Cash 1,500 July 31 Bal c/d 4,000 18 En. Effendi 2,500

4,000 4,0001 Aug Bal b/d 4,000

DrawingJuly 15 Cash 300 July 31 Owners Equity 300

300 300

Ac payable- En. EffendiJuly 22 R/Outward 250 July 18 Purchases 2,500 24 Bank 2,137.50 (2500-250-112.5)

24 Disc. Rec 112.50 (2500-250)x5%

2,500 2,500

StationeryJuly 20 Bank 250 July 31 Bal c/d 250

250 2501 Aug Bal b/d 250

Return OutwardJuly 31 Bal c/d 250 July 22 En. Effendi 250

250 2501 Aug Bal b/d 250

Discount ReceivedJuly 31 Bal c/d 112.5 July 24 En. Effendi 112.50

112.5 112.501 Aug Bal b/d 112.5

SalariesJuly 31 Bank 3,000 July 31 Bal c/d 3,000

3,000 3,0001 Aug Bal b/d 3,000

Jaya Bina Sdn Bhd

Debit Credit

Bank 23612.5Capital 40,000Cash 5,200Office furniture 20,000Ac-payable-Fella Design 14,000Sales 2,950Ac-Receivable-K.A Ent 950Purchases 4,000Drawing 300Stationery 250Return outward 250Discount received 112.5Salaries 3,000

57,312.50 57,312.50

Income Statement for the year ended 31st July 2007RM RM

Sales 2,950Less: COGSPurchase 4,000(-) R.outward 250 3,750Gross Loss -800Add: Discount received 112.5Less: Stationery 250

Salaries 3000 -3250NET LOSS -3937.5

Trial Balance as at 31st July 2007

Balance Sheet as at 31st July 2007NCA RMOffice furniture 20,000

CABank 23612.5Cash 5200Ac receivable 950

49762.5Owners equityCapital 40000Less: Net Loss -3937.5Less: Drawing -300 35762.5

CLAc payable- Fella design 14000

49762.5

Cash a/cDate Particulars RM Date Particulars RM

1-Jul Capital 10,000 3-Jul office furniture

5-Jul Sales 2,000 7-Jul purchase 1500

27-Jul cash © 15-Jul drawing 300

27-Jul bank © 5000

Bal c/d 5200

12000 12000

Bal b/d 5200

Bank a/cDate Particulars RM Date Particulars RM

1-Jul Capital 30000 3-Jul office furniture 6000

27-Jul cash © 5,000 20-Jul stationery 250

24-Jul en effendi 2137.5

31-Jul salaries 3000

Bal c/d 23612.5

35000 35000

Bal b/d 23612.5