Transaction Account to be Account to be debited credited a. Started a business with RM50,000 by cash b. Owner transfer RM25,000 cash to the business bank account c. Purchased a motor vehicle on credit from Honda Berhad for RM40,000 d. Bought goods on credit from Laila Berhad worth RM250 e. Paid to Lili Berhad, a creditor RM100 by cheque f. The owner took out RM1,500 cash for family holiday trip with his family g. Goods purchased from Lili Berhad broken so we returned back to her worth RM25 h. Cash sales RM800 i. Paid electricity bill by cheque for RM200

QUESTION TWO Enter the following transactions in the accounts of R.Sampa,balance off the accounts and extract the Trial Balance: 2022 Nov 1 Started in business with K15,000 in the bank. 3 Bought goods on credit from: J Small K290; F Brown K1,200; T Rae K610; R Charles K530. 5 Cash sales K610. == 6 Paid rent by cheque K175. 7 Paid business rates by cheque K130. 11 Sold goods on credit to: T Potts K85; J Field K48; T Gray K1,640. == == 17 Paid wages by cash K290. 18 We returned goods to: J Small K18; R Charles K27 19 Bought goods on credit from: R Charles K110; T Rae K320; F Jack K165. == == 20 Goods were returned to us by: J Field K6; T Potts K14. 21 Bought van on credit from Turnkey Motors K4,950. 23 We paid the following by cheque: J Small K272; F Brown K1,200; T Rae K500. == == 25 Bought another van, paying by cheque immediately K6,200. 26 Received a loan of K750 cash from B. Bennet. 28 Received cheques from: T Potts K71; J Field K42. 30 Proprietor brings a further K900 into the…

Account for the following transactions using T accounts: Sell goods for 90,000£ on credit Receive a cash payment of 50,000£ from the credit customer The business grants a discount of 5,000£ to the credit customer for early repayment Buy a car for 25,000 in cash Pay wages for 8,000£ Open a bank loan for 5,000£, receive the proceeds in cash Identify each transaction by its number. For each account, indicate what type of account this is (i.e. Current Assets, Non-current liabilities, etc.).

Travel Planners, Incorporated borrowed $5,000 from First State Bank and signed a promissory note. What entry should Travel Planners record when the note is repaid?