Based on the above information, you are required to:

 

a) Show the effects of all the above transactions in the accounting equation

b) Prepare the journal entries to record all the transactions

Transcribed Image Text:

Date i ii 111 Cash Journal Entries Account Title and Explaination Adam, Capital (To record cash invested into business) Land and Building Cash Notes Payable (To record purchase of Land and building by paying cash and signing Notes Payable) Office Equipment Cash Accounts Payable (To record office equipment purchased by paying cash partially and balance on account) Post. Ref. Debit Amount in RM 200000.00 450000.00| 30000.00 Credit Amount in RM 200000.00 165000.00 285000.00 17000.00 13000.00 Date i ii 111 Cash Journal Entries Account Title and Explaination Adam, Capital (To record cash invested into business) Land and Building Cash Notes Payable (To record purchase of Land and building by paying cash and signing Notes Payable) Office Equipment Cash Accounts Payable (To record office equipment purchased by paying cash partially and balance on account) Post. Ref. Debit Amount in RM 200000.00 450000.00| 30000.00 Credit Amount in RM 200000.00 165000.00 285000.00 17000.00 13000.00

Answer rating: 100% (QA)

a The effects of the above transactions on the accounting equation are as follows Cash invested into ... View the full answer