a) Explain your understanding about accounting. b) Explain TWO (3) purposes of accounting information c) What is the purpose of preparation Statement of Profit or Loss and Statement of Financial Position by the company. (2m (3m) (3m) Question 2 Double A Printing Solutions owned by Ayda. On 1 March 2018, Ayda brought in Cash of RM15,000, 2 units of personal computer into the business which the current value of the computer RM2,000 each, and one unit of car valued RM50,000 for her personal use. On the same date, Double A received supplies from Triple Gain Supplies amounted to RM2,500, on credit basis Required: a) Determine the value of owner's equity as at 1 March 2018 b) Assume that Double A received revenue RM3,750 for the first month of operation, and the expenses incurred were Supplies Expense RMI,200, Rental RM1,000, Advertising RM 350 and Utilities RM 700. Calculate the net profit for the month of March 2018 c) On 30 March 2018, Ayda put additional capital amounted RMI,500 cash. She declared this transaction as additional in asset and revenue. Do you agree? Elaborate your answer. (3m) (2m) (3m) Question 3 Journalizing the following: a) Brought into the business as investment, personal van which valued at RM45,000 and cash RM30,000 which deposited into the bank b) Purchased 2 units of labelling machine which the cost is RM4,200 per unit, on credit. c) On December 2018, Perfect Solution signed a rental agreement with MoneyIn Developer for renting 2 units of office. The rental for each unit is RM3,700 and will be paid every end of the month, starting from next month d) Withdrew cash from the bank amounted RM3,500 to pay deposit for a van for the business. e) Performed service to customer amounted to RMI,500. The customer agreed to pay RM500 and the remaining balance will be naid next two months. (6m)