CONFIDENTILSULTQUESTION 2.122 MARISISalimah Enterprise runs a grocery shop in Bangi. She started her business on...

90.2K

Verified Solution

Question

Accounting

CONFIDENTILSULTQUESTION 2.122 MARISISalimah Enterprise runs a grocery shop in Bangi. She started her business on I October 2023 by depositing RM100,000 cash into the business bank account. Below are the related transactions for the first month of operation:October2The owner brought in a van worth RM 15,000 for business use.3The business purchased shop equipment RM 10,000 from Makin Maju on credit.The business purchased goods of RM15,000 from Maidin Sdn Bhd, paid by cheque.7The business paid advertising expenses RM3,500 by cheque to advertise its shop around Bangi.10 The business sold goods to Encik Amat RM5,000 cash.18 The business sold goods to Mirna Enterprise RM7,500 on credit.23 The business incurred RM500 cash to pay for its van maintenance.24 The business paid staff salary of RM1,800 by cheque.25 The owner withdrew goods of RM200 for her daughter's birthday party.26 The business paid RM5,000 by cheque for the transaction on October, 03d.marks)sin your(perienced. accounting(2 marInd of fRequired:Show the effects of each of the October 2023 transactions of Salimah Enterprise on the expanded accounting equation using the following format:DateAssets+ Expenses= Liabilities+ Equity+ Revenues: Show the effects of each transaction on the Accounting Equation. Use "+" to indicate ase and "_" to indicate decrease.(22 marks]-END OF QUESTION PAPER-Page 3 of 3

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students