15. The effect on the accounting equation of the business buying a computer worth RM900, paying RM450 cash and owing RM450 to be paid in 30 days' time is: a. increase the asset computers, decrease the asset cash, decrease the liability accounts payable b. decrease the asset computers, increase the asset cash, decrease the liability accounts payable c. increase the asset computers, increase the asset cash, decrease the liability accounts payable d. increase the asset computers, decrease the asset cash, increase the liability accounts payable 16.A machine is purchased for RM120,000. It is estimated that it has a useful life of 4 years and will then be sold for RM8,000. Using the straight-line method, the carrying value of the machine at the end of the third year of the machine's useful life is: a. RM28,000 b. RM42,000 C. RM36,000 d. RM60,000 17.If sales = RM45,000, purchases = RM25,000, beginning inventory RM10,000 and ending inventory = RM8,000, cost of sales is: a. RM18,000 b. RM27,000 c. RM7,000 d. RM20,000 a. 18. The account income received in advance is: an income account b. an expense account c. an asset account d. liability account 19. Which of these is not part of shareholders' equity in the balance sheet? a. Dividends payable b. Share capital c. Revaluation reserve d. Retained earnings 20.Parent Berhad acquired all the shares in Subs Berhad at a cost of RM1,250,000. The fair value of the assets acquired was RM1,450,000 and the fair value of the liabilities assumed was RM450,000. The amount of goodwill acquired by Parent Berhad is: a. RM1,000,000 b. RM200.000 c. RM250,000 d. RM850,000