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    Section B

    Uploaded by

    Emmy Liza
    The document summarizes transactions from July 1-14 for a new business. It records starting capital of RM20,000, purchasing a vehicle for RM85,000 by cheque, furniture for RM2,000 in cash. RM300 was withdrawn for medical expenses. Additional capital of RM10,000 was added. A loan of RM30,000 was obtained from CIMB bank. Inventory of RM43,000 was purchased with RM4,000 in cash and RM39,000 on account.

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    Section B

    Uploaded by

    Emmy Liza
    13 views2 pages
    The document summarizes transactions from July 1-14 for a new business. It records starting capital of RM20,000, purchasing a vehicle for RM85,000 by cheque, furniture for RM2,000 in cash. RM300 was withdrawn for medical expenses. Additional capital of RM10,000 was added. A loan of RM30,000 was obtained from CIMB bank. Inventory of RM43,000 was purchased with RM4,000 in cash and RM39,000 on account.

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    FAR110

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    The document summarizes transactions from July 1-14 for a new business. It records starting capital of RM20,000, purchasing a vehicle for RM85,000 by cheque, furniture for RM2,000 in cash. RM300 was withdrawn for medical expenses. Additional capital of RM10,000 was added. A loan of RM30,000 was obtained from CIMB bank. Inventory of RM43,000 was purchased with RM4,000 in cash and RM39,000 on account.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    13 views2 pages

    Section B

    Uploaded by

    Emmy Liza
    The document summarizes transactions from July 1-14 for a new business. It records starting capital of RM20,000, purchasing a vehicle for RM85,000 by cheque, furniture for RM2,000 in cash. RM300 was withdrawn for medical expenses. Additional capital of RM10,000 was added. A loan of RM30,000 was obtained from CIMB bank. Inventory of RM43,000 was purchased with RM4,000 in cash and RM39,000 on account.

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    of 2

    Section B (Textbook page 50&51)

    1. July 1 – Started the business with RM20,000 cash in the bank.

    Bank Account Capital Account

    Dr (RM) Cr (RM) Dr (RM) Cr (RM)


    20,000 20,000
    Effect-Increase Effect- Increase

    2. July 2 – Brought vehicle from Toyota Malaysia for RM85,000 and paid by cheque.

    Vehicle Account Bank Account

    Dr (RM) Cr (RM) Dr (RM) Cr (RM)


    85,000 85,000
    Effect- Increase Effect- Decrease

    3. July 8 – Purchased furniture for RM2,000 and paid in cash.

    Furniture Account Cash Account

    Dr (RM) Cr (RM) Dr (RM) Cr (RM)


    2,000 2,000
    Effect- Increase Effect- Decrease

    4. July 9 – Withdrew RM300 cash from the business to pay for medical expenses.

    Drawings Account Cash Account


    Dr (RM) Cr (RM) Dr (RM) Cr (RM)
    300 300
    Effect- Increase Effect- Decrease

    5. July 12 – Added another RM10,000 cash to the business.

    Cash Account Capital Account

    Dr (RM) Cr (RM) Dr (RM) Cr (RM)


    10,000 10,000
    Effect- Increase
    Effect- Increase
    6. July 13 – Borrowed from CIMB bank RM30,000 for business purposes.

    Bank Account CIMB Account

    Dr (RM) Cr (RM) Dr (RM) Cr (RM)


    30,000 30,000
    Effect- Increase Effect- Increase

    7. July 14 – Purchased inventory worth RM43,000 from Anisah Lee. Decided to pay cash RM4,000
    and the balance on account.

    Purchase Account Cash Account

    Dr (RM) Cr (RM) Dr (RM) Cr (RM)


    43,000 4,000
    Effect- Increase Effect- Decrease

    Anisah Lee Account

    Dr (RM) Cr (RM)
    39,000
    Effect- Decrease

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