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    Acc406 Complementary Question Set 1

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    syafiqah nazim
    Haziq Shoes Enterprise sells leather shoes, sports shoes, and boots. In January 2022, they purchased inventory on credit from several suppliers, purchased a delivery lorry on credit, sold inventory to customers on credit, returned defective inventory to suppliers, took inventory for personal use, and received payments from customers. They also paid expenses like utilities, rent, and wages in cash.

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    Acc406 Complementary Question Set 1

    Uploaded by

    syafiqah nazim
    18 views3 pages
    Haziq Shoes Enterprise sells leather shoes, sports shoes, and boots. In January 2022, they purchased inventory on credit from several suppliers, purchased a delivery lorry on credit, sold inventory to customers on credit, returned defective inventory to suppliers, took inventory for personal use, and received payments from customers. They also paid expenses like utilities, rent, and wages in cash.

    Original Title

    ACC406 COMPLEMENTARY QUESTION SET 1 (2)

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    Haziq Shoes Enterprise sells leather shoes, sports shoes, and boots. In January 2022, they purchased inventory on credit from several suppliers, purchased a delivery lorry on credit, sold inventory to customers on credit, returned defective inventory to suppliers, took inventory for personal use, and received payments from customers. They also paid expenses like utilities, rent, and wages in cash.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    18 views3 pages

    Acc406 Complementary Question Set 1

    Uploaded by

    syafiqah nazim
    Haziq Shoes Enterprise sells leather shoes, sports shoes, and boots. In January 2022, they purchased inventory on credit from several suppliers, purchased a delivery lorry on credit, sold inventory to customers on credit, returned defective inventory to suppliers, took inventory for personal use, and received payments from customers. They also paid expenses like utilities, rent, and wages in cash.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    COMPLEMENTARY QUESTION: SET 1

    Haziq Shoes Enterprise, owned by Haziq, Muin and Hakim sells both local and imported leather shoes, sports shoes and boots. The
    following are the business transactions for the month of Jan 2022. You are required to fill in the blank with necessary details.
    Date Transactions Type Effect Journal Entries
    of (A/E/L/OE/R)
    Journ A+E=L+OE+R
    al
    Increase Decrease Debit Credit

    JAN 1 The owner contributed RM60,000 cash CRJ A,OE cash capital

    JAN 3 Purchases 30 units of leather shoes worth PJ E,L purchases Aiman ent
    RM6,000 credit from Aiman Enterprise

    JAN 3 Purchases 50 units of sport shoes worth PJ E,L purchases Sport’s ent
    RM5,000 on credit from Sport’s Enterprise

    JAN 3 Purchases 20 boots RM5,000 on credit from PJ E,L purcases Mek ent
    Mek Enterprise

    JAN 5 Purchases lorry on credit RM40,000 from GJ A,L lorry Sorong ent
    Sorong Enterprise

    JAN 6 Sold 20 units of leather shoes to Cak Company SJ R,A Cak company Sales
    RM6,000 on credit

    JAN 8 Returned 4 units of defective sport shoes ROJ E,L Sport’s ent Return
    amounting RM400 to Sport’s Enterprise outwards

    JAN 10 Sold 10 units of boots worth RM3,500 to Hakim A,R Hakim company sales
    Company on credit

    JAN 12 Returned 5 units of damaged boots worth E,L Mek ent Return
    RM1,250 to Mek Enterprise outwards

    JAN 17 Sent an invoice of RM7,000 together with 35 SJ A,R Anas & co sales
    units of sport’s shoes ordered by Anas & Co

    JAN 18 Cak Company returned 6 units of defective RIJ A,R Return inward Cak company
    leather shoes amounting RM1,800

    JAN 19 The owner brought furniture RM10,000 into the GJ A,OE furniture capital
    business

    JAN 20 Received a cheque RM1,200 from Muin due to CRJ R bank sales
    cash sales

    Date Transactions Type Effect Journal Entries


    of
    Journ Increase Decrease Debit Credit
    al

    JAN 21 Anas & Co returned 7 units of damaged sport RIJ R,A Return inwardds Anas & co
    shoes worth RM1,400

    JAN 25 The owner Haziq took goods (sport shoes) GJ OE,E drawings purchases
    worth RM200 for personal use

    JAN 26 Hakim Company Returned 2 units of boots RIJ A,R Return inwards Hakim
    worth RM700 company

    JAN 28 Paid utilities RM300 by cash CPJ E utilities cash

    JAN 30 Received cash of RM700 for boots sold to CRJ A,R cash sales
    Syahmi

    JAN 31 Paid rent RM600 by cash CPJ E A Rental cash


    expenses

    JAN 31 Paid wages amounting RM1,200 by cash CPJ E A wages cash

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