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Question 1 a. Distinguish between cash transactions and credit transactions. (4 marks) b. The following selected transactions took place in Nana Enterprise during July 2021. i. Received cash from owner Pn.Nana as additional capital RM45,000. ii. Purchased goods for resale on cheque from a supplier RM19,750. iii. Sold goods to a customer on account RM25,500. iv. Paid creditors RM12,200. v. Sent a debit note to a customer RM3,300. vi. Paid salaries to employees RM4,600. Required: Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owner's equity, Drawing, Revenue and Expenses) in the table below. Also indicate the specific item within the accounting equation element that is affected. To illustrate, the answer to (i) is shown below. Debit Credit i. Cash (Asset) Capital (Owner's equity ) (10 marks) increases by RM45,000 increases by RM45,000 ii. iii. c. The following is the list of incomplete iv. trial V. balance as at 30 September 2021. vi. Accounts Debit Credit RM RM 440,000 300,000 Capital Buildings Sales Purchases W 220,000 150,000 ? ? X b. The following selected transactions took place in Nana Enterprise during July 2021. i. Received cash from owner Pn.Nana as additional capital RM45,000. ii. Purchased goods for resale on cheque from a supplier RM19,750. iii. Sold goods to a customer on account RM25,500. iv. Paid creditors RM12,200. v. Sent a debit note to a customer RM3,300. vi. Paid salaries to employees RM4,600. Required: Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owner's equity, Drawing, Revenue and Expenses) in the table below. Also indicate the specific item within the accounting equation element that is affected. To illustrate, the answer to (i) is shown below. Debit Credit i. Cash (Asset) Capital (Owner's equity ) (10 marks) increases by RM45,000 increases by RM45,000 ii. iii. iv . c. The following is the list of incomplete trial balance as at 30 September 2021. V. vi . Accounts Debit RM Credit RM 440,000 300,000 220,000 Capital Buildings Sales Purchases W X Y Salaries Z Bank balance 150,000 ? ? ? 30,000 ? 85,000 720,000 720,000 Required: a) Determine the possible accounts of W, X, Y and Z in the above trial balance. (4 marks) b) Determine the amount of Y. (1 mark)