Question: 3 10 points Dr. Rizal, a dentist, started his own business running a dental clinic on 1 January 2020. The business transactions for the month

 3 10 points Dr. Rizal, a dentist, started his own business

3 10 points Dr. Rizal, a dentist, started his own business running a dental clinic on 1 January 2020. The business transactions for the month are as shown below: Date Transactions 1 Dr. Riral started the business with AED 200,000 initial capitals in the bank. 4 Dr. Rizal purchased office furniture and fitting worth AED 30,000 on credit from TSOP Office 5 Dr. Rizal purchased dental instruments for AED 32,000 on credit from Gigi Enterprise 16 De Rizal billed patients AED8,500 for services rendered, of which he received AED 2,500 in cash, and the balance was billed on account (due in 30 days). 18 Dr. Rizal brought in a motor vehicle worth AEDS5,000 for the business use. 28 Pald utilities bills with AED1,500 cash 31 Paid clinical assistants AED3,600 for salaries of January with cheques. Required: Analyze the effects that each of these transactions will have on the accounting equation of the business, Organize your answer in tabular form. (Hint: (Assets Expenses Liabilities Capital Revenues)l (10 marks) BIVAL EX 2 * XEE 12pt 4 Paragraph

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!