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INSTRUCTIONS: TIME: 2 HOURS Jan Answer ALL Questions in the Answer Booklet. (60 MARKS) QUESTION...

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Accounting

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INSTRUCTIONS: TIME: 2 HOURS Jan Answer ALL Questions in the Answer Booklet. (60 MARKS) QUESTION 1 (20 MARKS) The following are transactions that occurred during the month of January 2020 for Olive Trading 1 Invested RM20,000 cash in business. 2 Credit sales to Amin RM4,560. 2 Cash sales RM10,300. Cash purchases RM7,200. Paid rental expenses by cash RM1,500. 9 Credit purchases from Redha RM4,400. 10 Amin paid RM2,000 of his debt by cheque. Purchase photocopy machine RM15,000 from Merdeka Sdn Bhd by credit. 25 Received interest income RM2,100 from Suria Finance by cheque. 4 6 18 Required: (a) Prepare the general journal to record all transactions (9 marks) (b) Post them into a ledger and balance off the accounts. (7 marks) (c) Prepare a trial balance for the month ended 31 January 2020. (4 marks)

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