0% found this document useful (0 votes)
108 views

Poa T - 4

The document provides information about several accounting questions and examples. It includes sample trial balances, transaction listings, and financial statement templates. Students are asked to record transactions, prepare trial balances, and financial statements for different sole proprietor businesses based on the information provided.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
0% found this document useful (0 votes)
108 views

Poa T - 4

The document provides information about several accounting questions and examples. It includes sample trial balances, transaction listings, and financial statement templates. Students are asked to record transactions, prepare trial balances, and financial statements for different sole proprietor businesses based on the information provided.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

Tutorial 4 Posting to Ledger & Trial Balance 1 LTJ 2022

Tutorial 4 – Posting to ledger and trial balance


Question 2
Section A
The following balances were extracted from the book of Alexis Trading as
Question 1 at 31 Dec:

Transfer all the balances in Trial Balance below to Statement of Profit or RM RM


Loss (SPL) and Statement of Financial Position (SFP). Cash in hand 29,000 Office Equipment 31,500
MU Trading Cash at bank 38,000 Trade receivable 45,700
Trial Balance as at 31 May 2022 Motor Vehicles 65,000 Inventory 32,650
Debit Credit Sales 97,300 Capital 100,000
RM RM Trade Payable 60,050 Bank loan 75,000
Inventories @ 1 June 2021 21,950 Purchases 82,000 Salaries and Wages 8,500
Office equipment 20,000
Motor vehicles 60,000 Required:
Trade receivables 26,000 Prepare a proper Trial Balance for Alexis Trading as at 31 Dec.
Bank 18,000
Trade payables 18,500
Drawings 14,000 Section B: Extra exercise questions (for students’ own practice)
Loan 50,000
Sales 475,000 Question 1
Purchases 400,000
Carriage outward 5,600 Bob Stanley is a sole proprietor who keeps records of his cash and bank
Discount received 3,800 transactions. This transaction for the month of May:
Discount allowed 4,000
Salaries 35,000 May
Capital 57,250 1 Cash in hand RM400, cash at bank RM6,000.
604,550 604,550 4 Stanley received a cheque for RM1,200 from W. Albert which was
paid directly into the bank. This represented cash sales.
Additional information: 6 Paid wages in cash RM60.
Closing inventory as at 31 May 2022 amounted to RM10,950. 8 Sold goods for cash RM300.
10 Received cash from G. Small for RM600, in full settlement of a
Required: debt of RM640; this was paid directly into the bank.
(a) Prepare Statement of Profit or Loss for the month ended 31 May 2022. 11 Paid sundry expenses in cash RM48.
(b) Prepare the Statement of Financial Position as at 31 May 2022. 14 Purchased goods by cheque for RM1,400.
18 Paid J. Sandoz a cheque of RM190 in full settlement of a debt of
RM210.
Tutorial 4 Posting to Ledger & Trial Balance 2 LTJ 2022

23 Withdrew RM25 from the bank to pay the office cleaning company. c) Prepare the Statement of Profit or Loss for the month ended 31
24 Paid wages in cash RM60. October.
26 Sold goods for cash RM380. d) Prepare the Statement of Financial Position as at 31 October.
28 Paid salary by cheque RM240.
31 Retained cash amounting to RM600 and paid the remaining to the
bank. Question 3
Required:
From the following list of balances extract from Evergreen Trading’s book
a) Record the above transactions into the “T” accounts. as at 31 May 2022
b) Prepare Statement of Profit or Loss for the month ended 31 May.

Question 2 RM RM
Cash in hand 400 Trade payables 5,425
Melany started her business, Dream Accessories Shop on 1 October Cash at bank 6,800 Sales 12,400
The following transactions occurred during the month: Capital 18,000 Purchases 9.400
Drawings 300 Returns Outwards 275
Oct Motor vehicles 8,500 Wages 5,000
1 Started the business with RM15,000 in the bank. Trade 2,100 Rent & rates 3,600
2 Bought goods RM10,450 on credit from ByeBye Trading. receivables
5 Cash sales RM5,100.
6 Paid wages in cash RM110.
7 Sold goods RM1,650 on credit to Kylan Required:
9 Paid rent by cheque RM 150. Prepare a proper Trial Balance for Evergreen Trading as at 31 May 2022.
15 Bought fixture on credit from Cozy RM1,200
17 Paid ByeBye Trading by cheque for RM740
21 Return goods to ByeBye Trading RM500
24 Kylan paid his account by cheque RM815
31 Bought a van paid by cheque RM6,250

Closing inventory is RM5,200 as at 31 October.

Required:

a) Record the above transactions into the “T” accounts.


b) Prepare the Trial Balance as at 31 October

You might also like