Tutorial: Chapter 6

1. During the month ended 31 July 2019, the following events took place:

The transactions in July 2019 were:

2 Bought goods on credit from Gold RM560 and Silver RM860
4 Returned goods to silver for RM60 due to damage
6 Sold goods on credit to Ruby RM640 and emerald RM420
9 Bought delivery van from Opal Motors RM12,800.
14 Purchased goods on account from Pearl Bhd. invoice price RM3,000
received 5% trade discount`
22 Purchased furniture from Diamond Design on credit RM6,000.
Owner took out goods RM100 for personal use
24 Sold goods on credit to Ruby RM280
27 Return one of the furniture costing RM420

Required:
a) Record the above transaction in:
1. Sales journal
2. Purchase journal
3. Sales returns journal
4. Purchases returns journal
5. General journal
b) Post the transactions to the respective ledgers

2. Bright Sparks is an electrical goods wholesaler. The transactions during June 2020,
which are all on credit, were as follows:
June 1 Bought on credit from Lights Ltd various bulbs with a retail price of RM1,000
and received 20 per cent trade discount.
June 4 Sold goods on credit to Electrical Retailers Ltd for RM500 and allowed them 10
per cent trade discount on this amount.
June 8 Sent Electrical Retailers Ltd a credit note for goods returned that had a retail
value of RM300.
June 10 Sold goods on credit to Smith Retailers Ltd for RM600 after deducting 40 per
cent trade discount.
June 12 Purchased goods with a retail value of RM1000 from Switches Ltd who allowed
us 30 per cent trade discount.
June 15 Purchases on credit from Cables Ltd goods costing RM550.

June 16 Sent Smith Retailers Ltd a credit note for goods returned that had a retail value

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 of RM100.
June 18 Switches Ltd sent us a credit note for RM300 in respect of goods returned.

June 19 Received a credit note for goods returned to Lights Ltd that had a retail value of
RM250.
June 25 Sold goods to General Retailers Ltd on credit for RM250.

June 27 Sent General Retailers Ltd a credit note for RM50 to rectify an overcharge on
their invoice.
June 28 Sold goods on credit to Electrical Retailers Ltd at a price of RM560.

June 29 Purchased on credit a motor van from Brown Ltd that cost RM800.

June 30 Sold on credit to London Trading Co. some fixtures and fittings no longer
required in the shop for RM350. (Prior to this the business owned fixtures
costing RM1000).

Record in the relevant Day books and ledgers for the above transactions.