14. Using the accounting equation calculate the capital using the following given information. On 14 August 2019, the assets and liabilities of Serena and Co were as follows: Assets Fixtures and Fittings RM80,000, Stock RM18,000, Cash at the bank RM45,000 Liabilities Creditors RM22,000 RM121,000 B. RM121,500 C. RM120,000 D. RM122,500 A 15. Based on the information in question 10, the whole of the stock is sold for RM24,000 for cash. On 30 September 2019, the assets and liabilities have become: Assets : Fixtures and Fittings RM80,000, Stock nil, Cash at the bank RM69,000 Liabilities : Creditors RM22,000 What is the new capital as at 30 September 2019? A. RM127,500 RM127,000 RM126,500 D. RM125,500 B C. 16. Using the information given in question 10, if the owner Serena took cash RM1,000.00 for her own use, which account would be credited, A Drawings account Purchases account C. Sales account D. Cash account B 17. Sarah Shoe Shop bought goods from their supplier Syarikat Muzakkir on the following dates, September 3, 2019 bought goods for cash RM4,800 September 10, 2019 bought goods on credit RM5,200 September 15, 2019 bought goods for cash RM2,700 September 25, 2019 bought goods on credit RM5,300 What is the total purchases for the month of September? A RM18,000 B. RM17,200 C. RM14,250 D RM16,150 18. On 1" September 2019, Syarikat Muzakkir had a cash balance of RM 20,500. He paid for the following expenses: September 1 Paid rental RM2,500 September 3 Bought stationary RM500 September 10 Paid telephone bill RM250 September 15 Paid electricity bill Calculate the closing balance as at 30 September 2019, A RM17.100 B. RM17,000 c. RM16,500 RM16,000 RM150 D. 19 A Based on the example in question 13, Sarah Shoe Shop return some of the goods purchased on 10 September 2019, due to some defects in the shoes. This is classified as what in the books of Syarikat Muzakkir, Return Inwards Withdrawal of Goods Return Outwards Rate of Return B. C. D 20. Sarah Shoe Shop on 5h September 2019 purchased some office stationary cash for their own use. State the relevant accounts that has to be debited and credited in the books of Sarah's Shoe Shop. Debit Stationary account and Credit Cash account Debit Cash account and Credit Stationary account Debit Purchases account and Credit Bank account Debit Purchases account and Credit Cash account B. C. D. 21. On 106 September 2019, Syarikat Muzakkir sold goods on credit to Sarah Shoe Shop amounting to RM8,200. State the relevant accounts that has to be debited and credited in Syarikat Muzakkir's book. A. Debit Sarah Shoe Shop and Credit Sales B. Debit Sales and Credit Sarah Shoe Shop Debit Sarah Shoe Shop and Credit Cash Account D. Debit Sarah Shoe Shop and Credit Bank Account C. 22. . A On 15th September 2019, Sarah Shoe Shop bought a Van from Tan Hong Motors costing RM60,000 by issuing a cheque. State the relevant account that has to be debited and credited in the books of Sarah Shoe Shop. Debit Van Account and Credit Bank Account Debit Van Account and Credit Sarah Shoe Shop Account C. Debit Sarah Shoe Shop Account and Credit Bank Account Debit Purchases Account and Credit Bank account B D 23. On 14 July 2019, Ainina started her slimming tea business with a startup capital of cash RM10,000 and depositing it in a bank on the same day. State the relevant accounts that has to be debited and credited in Ainina's book, Debit Bank account and Credit Capital account Debit Bank account and Credit Sales account Debit Capital account and Credit Bank account D. Debit Cash account and Credit Sales account A B. C. 24. In accounting the purchase of those goods which the business buys with the prime intention of selling is called, A B Sales Debtors Purchases Creditors C D