Sammistarted herbusiness on 1 January 2021 called Trendy. You are required to prepare the GENERAL JOURNAL for the following transactions of Trendy for the first month of operations. Narratives are not required for each journal entry.Jan 01Sammi invested RM50,000 cash into the business.Jan 02Trendy purchased used motor vehicle for RM20,000.Jan 08Trendy paid rent for RM4,000.Jan 08Trendy completed work for a client and immediately received RM15,000.Jan 12Sammi signed a RM50,000 small business loans with CIMB Bank under Trendy's name.Jan 15Ideal Homes renovated and installed fixtures and fittings at a cost of RM3,000. Trendy will pay the bill at a later date.Jan 15Trendy paid RM1,000 cash for advertisement in a local magazine.Jan 28Trendy completed work for another client on credit and invoiced the client RM5,000.The client is allowed to settle the bill within 30 days.Jan 30Trendy paid ideal Homes that installed the fixtures and fittings earlier.Jan 30Trendy paid RM150 for usage of electricity for the month.

Name: Sammistarted herbusiness on 1 January 2021 called Trendy. You are requ
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Description: Sammistarted herbusiness on 1 January 2021 called Trendy. You are required to prepare the GENERAL JOURNAL for the following transactions of Trendy for the first month of operations. Narratives are not required for each journal entry.Jan 01Sammi inves

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Sammistarted herbusiness on 1 January 2021 called Trendy. You are required to prepare the GENERAL JOURNAL for the following transactions of Trendy for the first month of operations. Narratives are not required for each journal entry.

Jan 01	Sammi invested RM50,000 cash into the business.
Jan 02	Trendy purchased used motor vehicle for RM20,000.
Jan 08	Trendy paid rent for RM4,000.
Jan 08	Trendy completed work for a client and immediately received RM15,000.
Jan 12	Sammi signed a RM50,000 small business loans with CIMB Bank under Trendy's name.
Jan 15	Ideal Homes renovated and installed fixtures and fittings at a cost of RM3,000. Trendy will pay the bill at a later date.
Jan 15	Trendy paid RM1,000 cash for advertisement in a local magazine.
Jan 28	Trendy completed work for another client on credit and invoiced the client RM5,000.The client is allowed to settle the bill within 30 days.
Jan 30	Trendy paid ideal Homes that installed the fixtures and fittings earlier.
Jan 30	Trendy paid RM150 for usage of electricity for the month.

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