Exercise 6

General Ledger
Bank Real
2018 2018
Jan 1 Capital 50,000 Jan 15 Motor vehicle 5,000
22 Sales 3,500 26 XYZ Sdn Bhd 5,000
28 Account receivable 2,500 30 Salary 6,000
Utilities 890
Rental 2,500

Capital Real
2018
Jan 1 Bank 50,000

Equipment Real
2018
Jan 5 XYZ Sdn Bhd 5,000

XYZ Sdn Bhd Real

2018 2018
Jan 26 Bank 5,000 Jan 5 Equipment 5,000

+ -
Advertising expense Nominal
2018
Jan 8 Cash 50

Motor vehicle Real

2018
Jan 15 Bank 5,000
Kah Motors Sdn Bhd 15,000

Kah Motors Sdn Bhd Real

2018
Jan 15 Motor vehicle 15,000

- +
Sales Nominal
2018
Jan 7 Cash 1,500
18 Cash 600
22 Bank 3,500
Account receivable 2,500

Account receivable Real

2018 2018
Jan 22 Sales 2,500 Jan 28 Bank 2,500

Cash Real
2018 2018
Jan 7 Sales 1,500 Jan 8 Advertising expense 50
18 Sales 600 31 Drawings 50

+ -
Salary Nominal
2018
Jan 30 Bank 6,000

Utilities Nominal
2018
Jan 30 Bank 890

Rental Nominal
2018
Jan 30 Bank 2,500

+ -
Drawings Exception to real account
2018
Jan 31 Cash 50
Exercise 15
Further to Exercise 6, open a Profit and Loss A/c and proceed to close the book for the month of January 2018.

Closing Entries

General Journal
Date Details Debit (RM) Credit (RM)
2018
Jan 31 Profit and loss 50
Advertising expense 50

Sales 8,100
Profit and loss 8,100

Profit and loss 6,000

Salary 6,000

Profit and loss 890

Utilities 890

Profit and loss 2,500

Rental 2,500

Capital 1,340
Profit and loss 1,340

Capital 50
Drawings 50
 Closing Ledger

Bank Real
2018 2018
Jan 1 Capital 50,000 Jan 15 Motor vehicle 5,000
22 Sales 3,500 26 XYZ Sdn Bhd 5,000
28 Account receivable 2,500 30 Salary 6,000
Utilities 890
Rental 2,500
31 Balance c/d 36,610
56,000 56,000
Feb 1 Balance b/d 36,610

Equipment Real
2018 2018
Jan 5 XYZ Sdn Bhd 5,000 Jan 31 Balance c/d 5,000
5,000 5,000
Feb 1 Balance b/d 5,000

XYZ Sdn Bhd Real

2018 2018
Jan 31 Bank 5,000 Jan 5 Equipment 5,000
5,000 5,000

+ -
Advertising expense Nominal
2018 2018
Jan 8 Cash 50 Jan 31 Profit and loss 50
50 50

Motor vehicle Real

2018 2018
Jan 15 Bank 5,000 Jan 31 Balance c/d 20,000
Kah Motors Sdn Bhd 15,000
20,000 20,000
Feb 1 Balance b/d 20,000

Kah Motors Sdn Bhd Real

2018 2018
Jan 31 Balance c/d 15,000 Jan 15 Motor vehicle 15,000
15,000 15,000
Feb 1 Balance b/d 15,000

- +
Sales Nominal
2018 2018
Jan 31 Profit and loss 8,100 Jan 7 Cash 1,500
18 Cash 600
22 Bank 3,500
Account receivable 2,500
8,100 8,100

Account receivable Real

2018 2018
Jan 22 Sales 2,500 Jan 28 Bank 2,500
2,500 2,500

Cash Real
2018 2018
Jan 7 Sales 1,500 Jan 8 Advertising expense 50
18 Sales 600 31 Drawings 50
Balance c/d 2,000
2,100 2,100
Feb 1 Balance b/d 2,000

Salary Nominal
2018 2018
Jan 30 Bank 6,000 Jan 31 Profit and loss 6,000
6,000 6,000

Utilities Nominal
2018 2018
Jan 30 Bank 890 Jan 31 Profit and loss 890
890 890

Rental Nominal
2018 2018
Jan 30 Bank 2,500 Jan 31 Profit and loss 2,500
2,500 2,500
+ -
Drawings Exception to real account
2018 2018
Jan 31 Cash 50 Jan 31 Capital 50
50 50

Profit and loss

2018 2018
Jan 31 Advertising expense 50 Jan 31 Sales 8,100
Salary 6,000 Capital 1,340
Utilities 890
Rental 2,500
9,440 9,440

Capital Real
2018 2018
Jan 31 Drawings 50 Jan 1 Bank 50,000
Profit or loss 1,340
Balance c/d 48,610
50,000 50,000
Feb 1 Balance b/d 48,610

Exercise 16
Further to Exercise 15, prepare a Post-Closing Trial Balance for the month of January 2018.

Sky
Post-Closing Trial Balance as at 31 January 2018
Account title Debit (RM) Credit (RM)
Bank 36,610
Equipment 5,000
Motor vehicle 20,000
Kah Motors Sdn Bhd 15,000
Cash 2,000
Capital 48,610
63,610 63,610