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  • Tuto 2 - Journal

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    Hana Yusri
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    MYJ Trading recorded various business transactions during January 2022, including investing RM100,000 cash into the business, purchasing a van for RM15,000 on credit, depositing RM50,000 cash into the bank, borrowing RM40,000 from the bank repayable over 5 years, paying rent and electricity expenses, withdrawing cash for personal use, and receiving payment for services.

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    MYJ Trading recorded various business transactions during January 2022, including investing RM100,000 cash into the business, purchasing a van for RM15,000 on credit, depositing RM50,000 cash into the bank, borrowing RM40,000 from the bank repayable over 5 years, paying rent and electricity expenses, withdrawing cash for personal use, and receiving payment for services.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    10 views1 page

    Tuto 2 - Journal

    Uploaded by

    Hana Yusri
    MYJ Trading recorded various business transactions during January 2022, including investing RM100,000 cash into the business, purchasing a van for RM15,000 on credit, depositing RM50,000 cash into the bank, borrowing RM40,000 from the bank repayable over 5 years, paying rent and electricity expenses, withdrawing cash for personal use, and receiving payment for services.

    Copyright:

    © All Rights Reserved
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    of 1

    Example question-General journal

    Given below are the transactions of MYJ Trading during the month of January 2022

    Date Particulars Effect on transaction

    2022 Increase/ Double Entry


    Decrease
    Jan 1 Invested RM100,000 cash in the
    business

    7 Purchased a van worth RM15,000 on


    credit from AZ Motors.

    12 Deposited RM50,000 cash into a bank


    account

    18 Borrowed RM40,000 from a bank. The


    loan was to be repaid within 5 years.

    21 Paid rent of RM2,000 by cheque.

    24 Paid electricity of RM500 by cash

    28 The owner withdrew RM1,000 cash


    from the business for his own use.

    31 Received a cheque RM3,000 for fees


    charged on services rendered.

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