“BUSINESS TRANSACTIONS REPORTING”
Zarina is a founder of Sugar Bakery Sdn Bhd, a business that produces and sells various flour-based baked such as bread, cookies, cakes, pastries and pies. Shestarted a business with the help of her siblings who keep the business sustainuntil today.
Routinely, Zarina will check and review all transactions occured between customers, suppliers and employees at the end of each month. Considering that today is thefirst day of May 2022, Zarina has decided to review the cumulative results for the monthof April 2022 as well as the overall performance of the business.
The documentsreviewed were related to the financial year end of the business as of April 2022. With the help of her account executive, all transactions for the months of April 2022were summarized as below:
On 2nd May 2022, her account executive has been warded to undergo a kidney stoneremoval treatment. Due to that, Zarina found difficulties to summarize all informationas she does not have accounting background and incompetent to finalise the financial reports for the business.
Hence, Zarina seeks your cooperation and advice on how to prepare the followingwith the informations given. (a) Identify the effect for each of the transactions. (b) Journalise the double entries.