Below were transactions for the month of March 2021 for Aisyah, a sole trader: Date 1...
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Below were transactions for the month of March 2021 for Aisyah, a sole trader: Date 1 2 3 4 5 6 7 8 12 Business Transactions Started a business with RM20,000. Bought goods worth RM1,000 on credit from Nasir. Paid rent RM200 cash. Transferred RM12,000 of the business cash into the bank account. Sold goods to Nurul RM600. Bought stationery by cheque RM50. Cash sales RM100. Returned goods worth RM150 to Nasir. Received commission RM100 by cash. Required: Using the example provided below: a) Identify the effects (increase/decrease) of the above transactions on assets, liabilities, owner's equity, revenues and expenses. Below were transactions for the month of March 2021 for Aisyah, a sole trader: Date 1 2 3 4 5 6 7 8 12 Business Transactions Started a business with RM20,000. Bought goods worth RM1,000 on credit from Nasir. Paid rent RM200 cash. Transferred RM12,000 of the business cash into the bank account. Sold goods to Nurul RM600. Bought stationery by cheque RM50. Cash sales RM100. Returned goods worth RM150 to Nasir. Received commission RM100 by cash. Required: Using the example provided below: a) Identify the effects (increase/decrease) of the above transactions on assets, liabilities, owner's equity, revenues and expenses.
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Analyze the effects of the transactions on assets liabilities owners equity revenues and expenses He... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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