Question 1

Tinta Abadi Sdn Bhd (TASB) runs a business of selling books and stationeries. Below
are the accounts balances as at January 31, 2015.
Account Debit Credit
RM RM
Cash 30,300
Bank 82,700
Accounts Receivable 15,760
Inventory 49,200
Office Equipment 97,600
Accumulated depreciation: Office Equipment 12,600
Capital 239,070
Accounts Payable 23,100
Accrued Utilities Expense 790
275,560 275,560

Additional information:
On February 1, 2015, subsidiaries' ledger contains the following information:

Accounts Receivable RM Accounts Payable RM

Kop SMK Bidor 3,300 Sin Min Sdn Bhd 13,330
Kop SMK Selabak 7,600 Kedai Buku Tuntas 1,100
SK Gunung Rapat 4,860 CCY Sdn Bhd 8,670

At the end of February 2015, all of the business transactions have been recorded in
the following journals:

Sales Journal
Dr Acc Rec
Date Accounts Debited Term
Cr Sales
Feb 10 Tadika Nur 5/10, n/30 2,800
23 Sekolah Sri Damai 5/10, n/30 1,300
28 Total 4,100

Purchases Journal
Cr Purchase
Date Accounts Credited Term
Cr Acc Pay
Feb 9 Kedai Buku Tuntas 5/10, n/30 3,400
24 Sri Cemerlang Sdn Bhd 5/10, n/30 3,600
28 Total 7,000

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Cash receipts journal
Sales
Cash Bank
Date Accounts Credited Discount
Dr Dr Dr
Feb 4 Accounst Recievable: SK Gunung Rapat 4,617 243
14 Sales 24,810
15 Accounst Recievable: Kop SMK Bidor 3,090
15 Accounst Recievable: Kop SMK Selabak 5,700
17 Accounst Recievable: Tadika Nur 2,660 140
28 Sales 37,320
28 Total 24,810 53,387 383

Cash Payment Journal

Purchase
Cash Bank
Date Accounts Debited Discount
Cr Cr Cr
Feb 6 Accrued Utilities Expense 790
11 Accounts Payable : Kedai Buku Tuntas 4,197 163
17 Drawing 1,000
25 Accounts Payable : CCY Sdn Bhd 8,670
25 Accounts Payable : Sin Min Sdn. Bhd 6,665
28 Rent expense 2,100
28 Salaries Expense 6,000
28 Total 1,790 27,632 163

General Journal
Date Accounst Title and Explanations Debit Credit
Feb 2 Sales Return and Allowance 210
Accounts Receivable – Kop SMK Bidor 210
(To record purchases return)

10 Accounts Payable – Kedai Buku Tuntas 140

Purchases return and Allowance 140
(To record Sales return)

28 Utilities expense 980

Accrued Utilities Expense 980
( To record utilities expense for February )

REQUIRED:
Post all of the above journals’ records into the appropriate accounts in a General
Ledger.
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(2) General ledgers
Accounts Receivables
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 1 Balance √15,760
2 Sales Return and Allowance √210
4 Bank √4,617
15 Bank √3,090
15 Bank √5,700
17 Bank √2,660
31 Sales Discount √383
31 Sales √4,100 √3,200

Accounts Payables
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 1 Balance √23,100
10 Purchase Return and Allowance √140
11 Bank √4,197
25 Bank √8,670
25 Bank √6,665
31 Purchases Discount √163
31 Purchases √7,000 √10,265

Sales Discount
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 28 Accounts Receivables √383 383

Purchases Discount
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 28 Accounts Payables √163 163

Sales Return and Allowance

Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 2 Accounts Receivables √210 210

Purchases Return and Allowance

Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 10 Accounts Payables √140 140

Bank
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 1 Balance √82,700
28 Total receipts √53,387
28 Total payment √27,632 √108,455

Cash
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 1 Balance √30,300
28 Total receipts √24,810
28 Total payment √1,790 √53,320

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 Drawing
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 17 Cash √1,000 1,000

Purchases
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 28 Accounts Payables √7,000 7,000

Sales
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 14 Cash √24,810
28 Bank √37,320
28 Accounts Receivables √4,100 √66,230

Rent Expense
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 28 Bank √2,100 2,100

Salaries expense
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 28 Bank √6,000 6,000

Utilities Expense
Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 28 Accrued Utilities Expense √980 980

Accrued Utilities Expense

Date Account Description Debit (RM) Credit (RM) Balance(RM)
Feb 1 Balance √790
6 Cash √790
28 Utilities Expense √980 √980
(42 x 1 = 42 marks)

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