$7$:$59$

$17$

BAAB$1014\_$Group Assignment $-$ GROU...

$1$

Instructions: Answer all questions.

Question $1$

Mr$.$ Badrol established a tour agency on $1$ January $2021.$ The transactions for the month are as follows:

$\backslash$table$[[$Date$,$Transactions$],[1,\backslash$table$[[$Started in business and deposited RM$60,000$ into a bank account opened specially$],[$for thebusiness.$]]],[2,\backslash$table$[[$The owner buys some goods for RM$8,000$ from Salleh and agrees to pay them sometime$],[$withinthe next two weeks.$]]],[10,$Bought office equipment worth RM$10,000$ by cheque.$],[11,$Sold goods worth RM$5,000$ on credit.$],[12,$Received cheque of RM$5,000$ from customer$],[25,$Paid creditors amount due RM$8,000$ by cheque.$],[27,$The business borrows RM$30,000$ from the bank, the loan to be repaid in $3$ years.$],[30,\backslash$table$[[$Received dividend for the year $2021$ for RM$5,000.$ This amount has been credited in$],[$the$],[$company$\text{'}$s bank account.$]]]]$

As per the example provided below, you are required to:

$1$ January $2021-$ Started in business and deposited RM$60,000$ into a bank account opened specially for the business.

$\backslash$table$[[2019,$Effects,$\backslash$table$[[$Account to$],[$be$],[$debited$]],\backslash$table$[[$Account to$],[$be$],[$credited$]],\backslash$table$[[$Book prime$],[$of$],[$entry$]]],[$Jan $1,\backslash$table$[[$Increase asset$],[$Increase capital$]],$Bank RM $60,000,$Capital RM$60,000,]]$

a$)$ Show the effects $($increase$/$decrease$)$ upon assets, liabilities, expenses, revenue and owner's equity for the transactions.

b$)$ State the journal entries $($debit$/$credit$).$

$(4$ marks$)$

c$)$ Identify the appropriate book of prime entry to record the

$(4$ marks$)$

transactions.

$(2$ marks$)$

$($Total:$10$ Marks$)$

$2$