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Warming up for Quiz – CBA1133 & DOM2234

Below are the transactions need to be settled.

Dec 1 Started business with RM10,000 cash

Dec 2 Transferred RM3,000 cash to bank

Dec 3 Bought stocks on credit from Munah RM5,000

Dec 4 Sold stocks to Minah cash RM2,000

Dec 5 Paid rental by cash RM800

Dec 6 Bought computer RM1,500 by cheque

Dec 7 Sold to Punah RM1,000 by cheque

Dec 8 Paid Munah RM2,000 by cheque

Dec 9 Withdrew cash RM500 for personal use

Dec 10 Paid electricity at Pos Malaysia RM100 cash

Ok, that’s it for the moment…..will continue later

Don’t forget to bring your calculator!

A simple instruction that I wish to see it coming. If I still see students using their mobile phone as a calculator, then I know that these students either they don’t understand simple ENGLISH or they just don’t want to listen.

To be a good student, you need to be one. Discipline and be responsible.

For those who still owing for the book, please bring the money by next week okay coz I also have my accounts payable to settle….

 

Control Accounts – Exercise

The following information relates to the general ledger of Rita Enterprise for the month of March 2013:

 

Balances at 1 March 2013 RM
   
Sales Ledger Control Account 19,744
Purchase Ledger Control Account 12,936
   
Transactions for the month of March 2013:  
Cash paid to suppliers (suppliers on credit) 9,058
Interest charged to customers 144
Cash received from customers (customers on credit) 12,488
Bad debts written off 444
Credit purchases 10,712
Purchases returns 480
Freight charged to debtors 192
Discount allowed 270
Discount received from suppliers 188
Credit sales 9,134
Interest charged by creditors 88
Dishonoured cheque returned to customers 296
Sales returns 256
Cash sales 16,864
Cash purchases 1,380
Balances in sales ledger set off against credit balances in purchases ledger 152
Cash refunded to debtors 72

Required:

Prepare the sales and purchase ledger control accounts using the relevant information above.

It’s time for a DOM2234 QUIZ!

We will be having our first quiz for DOM2234 Principles Of Accounting on this coming Monday 18 December 2017 for Section 1 and 2. As for Section 3 the quiz will be held on 19 December 2017.

Please read, attempt some exercises related to the quiz. Cover topic 1, 2, 3  and 4. Put focus on topic 1 and 2. The quiz is for your carrymarks. Master your Debit and Credit as well as the basic topic of Accounting Equation.

So…Adios!