Question 1 A. Fill in missing items below: ASSET RM CAPITAL RM (1) (2) (3) LIABILITIE S RM 60.500 7,000 ? 5,200 77,500 ? 130,000 17.500 42,100 53.040 119,650 ? ? 20,000 111,000 9.500 (5) (6) (7) (8) ? 15,400 49,000 41,020 ? 110,000 (4 marks) B. State the effects (increase/decrease) and the double entry (debited/credited) for each transaction based on the format given below:- Effects of transaction on accounting Double Entry equation Transactions Increase Decrease Debit Credit Example: Asset Ismail Sales Sold goods to Ismail on credit Revenue (Account receivables account) Ahmad sets up the Maju Enterprise with cash RM10,000 and motor vehicles RM30,000 Purchased computers RM5,000 for office use on credit from PC Genuine Sdn Bhd Sold goods by cash RM500 to Ali Deposited RM1,000 of cash in the bank Bought goods RM2,500 from Abim Sdn Bhd on credit Ahmad took I worth RM1000 and cash RM500 for personal use Required: State the effects and double entry of the above transactions based on the format given. (12 marks) Question 1 A. Fill in missing items below: ASSET RM CAPITAL RM (1) (2) (3) LIABILITIE S RM 60.500 7,000 ? 5,200 77,500 ? 130,000 17.500 42,100 53.040 119,650 ? ? 20,000 111,000 9.500 (5) (6) (7) (8) ? 15,400 49,000 41,020 ? 110,000 (4 marks) B. State the effects (increase/decrease) and the double entry (debited/credited) for each transaction based on the format given below:- Effects of transaction on accounting Double Entry equation Transactions Increase Decrease Debit Credit Example: Asset Ismail Sales Sold goods to Ismail on credit Revenue (Account receivables account) Ahmad sets up the Maju Enterprise with cash RM10,000 and motor vehicles RM30,000 Purchased computers RM5,000 for office use on credit from PC Genuine Sdn Bhd Sold goods by cash RM500 to Ali Deposited RM1,000 of cash in the bank Bought goods RM2,500 from Abim Sdn Bhd on credit Ahmad took I worth RM1000 and cash RM500 for personal use Required: State the effects and double entry of the above transactions based on the format given. (12 marks)