Presented below is information related to Hanif Real Estate Agency.
October 2019
1 Hanif begins business a real estate agent with cash investment of RM25,000 in exchange for capital.
2 Hires an administrative assistant.
3 Pays RM1,500 for office rental, cash
4 Purchases furniture for RM3,500 from World Furniture, on account.
10 Provide services for Billy Lim, RM4,500 on account.
16 Pays RM2,000 to World Furniture (balance related to transaction 3October)
20 Provide service to Piere Andrew, RM3,200 and receives cash
25 Pays utilities for RM300, cash
Hanif invest additional capital RM5,000.
30 Pays salary to administrative assistant RM1,500, cash
Required:
a) Journalize the above transactions (Prepare general day books)
b) Post to the accounts (Post to the ledger/ T-accounts)
c) Balance off accounts
d) Prepare trial balance as at 31st October 2019
e) Prepare the Statement of Profit or Loss for the month ended 31st October 2019, Statement of Equity for the month ended 31st October 2019 and Statement of Financial Position as at 31st October 2019