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Study the restaurant transactions for the month of September 2017 shown
in the following list, (a) record the necessary T-accounts, balance off the
accounts and extract a trial balance as at 30 September 2017.

(b) Prepare an Income statement and a Statement of Financial Position
based on the trial balance for the month ended 30 September 2017.


Sep 1The owner opened a business account and
deposited RM35,000 in the bank, and kept RM25,000

cash in the restaurant.

Sep 5The owner loanedRM30,000 from HLC Finance and deposited in
the bank.

Sep 7Utility deposit of RM500 was paid by

Sep 8The owner paid one month rent for the
restaurant space, RM4,000 cash.

Sep 9The owner purchased equipment RM46,000 ;
RM16,000 by cheque and the balance on credit.

Sep 11Furniture & fittings were purchased for
RM30,400 cheque.

Sep 14The owner purchased RM3,200 food supplies on
credit, and paid RM3,800 cash for beverage


Sep 15The owner purchased coffee machine RM5,600
by cheque.

Sep 16The owner paid for insurance RM4,000 which
covered RM1,000 for the current month, the

balance for the following 3

Sep 18The owner purchased RM3,800 of food
supplies on credit.

Sep 23The owner paid advertising of RM700 by

Sep 25Loan interest was paid by cash RM120.

Sep 29Employees were paid salaries of RM12,800 and wages of RM2,400.

Sep 30Sales revenue for the first month was RM42,800;
90% cash, 10% on credit.

Sep 30The owner paid RM16,600 on accounts payable
by cheque.

Sep 30The owner withdrew RM500 cash from his
business account.

Additional information (adjustment)

·Closing food & beverage inventory valued at RM1,400 on 30 September

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