Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Discuss TWO (2) conditions of an effective goal to drive motivation. (6 marks) 2. Show the effects on assets, liabilities and equity for the
1. Discuss TWO (2) conditions of an effective goal to drive motivation. (6 marks) 2. Show the effects on assets, liabilities and equity for the following transactions. Please use the symbol (+) if increase and (-) if decrease: Assets Liabilities Equity Example: Bought machinery + Machinery RM10,000 | with cash RM1,000 - Cash RM1,000 a) Started business with cash RM20,000, motor vehicle RM50,000 and furniture RM3,000 b) Equipment costing RM15,000 was bought. A down payment of RM2,000 in cash was paid upfront. The balance was financed by taking a three-year loan from SBS Bank. c) Purchased goods worth RM3,680 from Alexa Sdn Bhd. paid by cheque RM1,000 and balance to be paid the next month. d) Paid electricity bill by online banking RM330. e) Sold goods costing RM1,600 for RM2,200. Payment will be collected next month. f) Owner paid RM500 from the business cash for his family's holiday expenses. (16 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started