Question

Sani, a graduate from Universiti Putra Malaysia, started the Merchandise Company with RM50,000 cash on January 2019. Below are the one month transactions of his company.

1/1 Bought goods from A & Co. for RM10,000 cash.

2/1 Bought Goods for Cash 5,000

3/1 Bought Goods from B & Co. for cash 6,000

4/1 Purchased Goods from C & Co. on credit 8,000

4/1 Brought in RM60,000 Cash to business

5/1 Sold goods worth 8,000 to P

5/1 Bought furniture from Modern Furniture for 10,000

5/1 Purchased goods for cash 15,000

6/1 Purchased goods from B. Sen & Co for 30,000

6/1 Opened a bank account by depositing 16,000

6/1 Sold goods to Zahir Khan for 10,000

6/1 Bought machinery for 6,000 and payment made by cheque

6/1 Payment to B.Sen & Co by cheque 5,000

6/1 Interest paid through cheque 2,000

6/1 Sold goods for cash 10,000

7/1 Cash sales for 6,000

7/1 Sold goods to Q for cash 4,000

8/1 Sold goods to R on credit 8,000

10/1 Returned goods to A & Co. 2,000

15/1 Goods returned from P 1,000

15/1 Goods returned by Zahir Khan for 2,000

15/1 Withdrew from bank for personal use 3,000

18/1 Goods taken by the proprietor for personal use 1,000

19/1 Withdrew from bank for office expenses 10,000

20/1 Cheque received from Zahir Khan 5,000

20/1 Commission received by cheque 5,000

20/1 Bought furniture 10,000

25/1 Purchased machinery for cash 25,000

26/1 Bought computer from Intel & Co. 30,000

27/1 Cash sales 5,000

29/1 Cash purchases 6,000

30/1 Paid electricity bill for 100

31/1 Paid Salaries by Cheque RM7,000

31/1 Closing Stocks is valued using FIFO method worth RM30,000.

Required

Prepare the Trial Balance.

Answer 1