Again…. for those who really wants to study. You can print this and attempt this exercise.
| RM | RM | |
| Dr | Cr | |
| Sales and Purchases | 61,900 | 287,600 |
| Returns | 1,750 | 1,010 |
| Carriage inwards | 2,500 | |
| Inventory 1.1.18 | 10,400 | |
| Equity 1.1.18 | 150,000 | |
| Salary | 52,000 | |
| Rental | 15,000 | 6,000 |
| Interest | 2,200 | 1,480 |
| Stationery | 2,750 | |
| Utilities | 8,800 | |
| Insurance | 1,520 | |
| Bad debt | 2,400 | |
| Advertising | 8,550 | |
| Premises | 200,000 | |
| Furniture and fittings | 15,000 | |
| Machinery | 30,000 | |
| Receivables and payables | 35,400 | 8,730 |
| Bank | 4,500 | |
| Cash | 150 | |
| 454,820 | 454,820 |
Additional notes,
| Closing inventory as at 31.12.2018 is RM12,350 |
| Depreciation for machine is to be provided at 20% using straight line method |
| The owner took RM100 on a weekly basis throughout the year from the bank |
Good luck
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