Financial Reporting for January Transactions, UM

School

Universiti Malaya (UM)

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Assignment Type

Individual Assignment

Subject

Accounting and Finance

Uploaded by Malaysia Assignment Help

Date

01/16/2025

January Accounting Transactions:

January	Transaction
1	Puan Ayu made a cash capital contribution of RM 20,000 and computer and equipment valued at RM 5,000 into the business
2	Purchase 5 TopBoxes (Siput) costing 150 each, totaling RM750 to meet customers’ demand on Credit from SIPUTINACTION
4	Purchase 3 Adjustable Rear Racks (Param) from SG garage costing RM 360 each totalling RM 1080 for stocks on credits
5	Bought a couple of office furniture from IKEA to furnish the business premises totalling RM 1000 in cash
6	Purchase 10 stainless steel front basket at RM 215 each, totaling RM 2150 to ensure sufficient stock from SG garage on credits
8	3 engine oil was purchased at AMS Motor at a value for RM 230 on cash
9	Earn cash sales of sticker amounting to RM 200 from local customers
10	Foot pegs were sold totaling RM 50 on credit to Suresh
12	3 sets of side mirrors were sold to NKI Garage costing RM 180 on credit
14	10 sets of disc brake were sold to NKI Garage which value at RM 550 on credit
16	Puan Ayu took out RM 60 worth of side mirrors as an emergency to help her friend
16	Puan Ayu withdrew RM 300 in cash from the business for personal expenses
18	A loan was taken from Maybank to support business operation amounting to RM 2000
20	A defective footpeg worth RM 50 were returned back to the supplier as it does not pass the quality check of our store
22	An advertising expense of RM 300 was incurred to hire a marketing freelancer to create a video for us
22	Utilities expenses totalling RM 150 were paid to maintain operational facilities
24	NKI Garage returned a set of side mirrors worth RM 60 due to a defect that it has out of the three sets
26	Suresh returned the foot peg due to the defect in paint colour
28	1 TopBox (siput) was returned back to SG Garage due to crack at the bottom of the box
29	Income generated from promotional sales during a local event totaled RM 1000
29	Gained an income from a local sponsorship event that amounted to RM 500
30	Gained an income from a local sponsorship event that amounted to RM 500

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Please make it into a journal, ledger, trial balance

Types of Journal:
a) General journal
b) Sales journal
c) Purchase journal
d) Sales return journal
e) Purchase return journal
f) Cash receipt journal
g) Cash payment journal

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