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Question 2 Nicole started her own business on 1 June 2021. The following is a...

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Question 2 Nicole started her own business on 1 June 2021. The following is a list of her transactions in that month: 2021 June 1 Started in business with RM21,000 cash. 2 Put RM18,000 of the cash into a bank account. 3 Bought goods for cash RM1,100. 4 Bought goods on time from: T. Dry RM1,600; F. Hood RM1,860. 5 Bought stationery on time from Buttons Ltd RM178. 6 Sold goods on time to: R Tong RM340; L. Fish RM480 8 Paid rent by cheque RM440 10 Bought fixtures on time from Chiefs Ltd RM1,220 11 Paid salaries in cash RM1,580 14 Returned goods to F. Hood RM60 15 Bought van by cheque RM13,000 16 Received loan from B. Barclay by cheques RM4,000 18 Goods returned to us by R. Tong RM10 21 Cash sales RM290 24 Sold goods on time to: L. Fish RM260; R. Tong RM920 26 We paid the following by cheque: F. Hood RM1,200; T. Dry RM1,600 29 Received cheques from: L. Fish RM740 30 Received a further loan from B. Barclay by cash RM1,000 Required: (a) Enter the transactions in t-accounts and balance-off your accounts as at 30 June 2021. (b) Prepare a trial balance as at 30 June 2021. (Total: 20 marks)

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