Question 1:
Menara Wealth Management involved the following transactions during September 2020, the first month of its operation:
Date
Transactions
September 1
Started a financial planning services company by investing RM150,000 cash and office equipment of RM50,000.
2
Purchased RM12,000 of office equipment by cash.
3
Purchased RM3,000 of office supplies on credit.
4
Completed service for a client and received a payment of RM9,000 cash.
8
Completed service for Syarikat Bizara on credit amounted to RM17,000.
10
Paid the supplier for the office supplies purchased on 3 September.
14
Paid RM9,600 being the annual premium for an insurance policy.
18
Received payment in full from Syarikat Bizara for the service completed on 8 September.
27
Owner withdrew RM6,500 cash from the company for personal expenses.
30
Paid RM1,750 cash for the utility bills in September.
31
Received RM20,000 cash from a client for a financial service to be rendered next year.
Required:
(5.75)
(6)
(2.75)
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