Question: There are FOUR (4) questions in this question paper. Answer ALL questions in the Answer Booklet. Question 1 The following are Chico Trading's transactions for
There are FOUR (4) questions in this question paper. Answer ALL questions in the Answer Booklet." Question 1 The following are Chico Trading's transactions for May 2022. Date Business Transactions 1 Started business with RM5,000 cash at the bank. 3 Purchased goods worth RM2,000 by cheque. 3 Purchased goods worth RM1,000 on credit from Iman Sdn. Bhd. 8 Sold goods for cash RM1,500. 10 Purchased stationery by cash RM50. 15 Paid Inn an Sdn. Bhd. RM900 by cheque. 25 Paid staff salary of RM1,200 by cash. Required: "a) Identify the above transactions' effects (increase/decrease) on assets, liabilities, owner's equity, revenues, and expenses." "b) Identify the double entry to record the transactions above. An example is provided below
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