A212 HONOU...LEDGE FORM WA212 TAKEHOME XM.docx QX + mmmm Z) - 11 A A A A LLJ A X X AA AB Y Kareem is the sole owner of Kencana Consultancy Services (Kencana). Follows are business transactions of Kencana for the financial year ended 31 December 2021: 1. Kareem invested RM20,000 cash to start his business. Purchased office equipment worth RM10,000 cash. 2. 3 Purchased office supplies from Usop Enterprise totalled RM2,000 cash. Received RM1,500 cash for the services provided. 4 5. Received invoice of RM300 from Media Serantau Berhad for the recent. advertisement about Kencana in its paper. 6. Received cash RM2,000 from Zack Enterprise representing 50% payment for the services been provided. 7. Settled the following expenses by cash, Office rental Salaries RM800 RM1,500 RM300 Utilities expense 8. Utilised office supplies of RM400. 9. Settled the outstanding payment to Media Serantau Berhad. 10. Received RM1,000 from Zack Enterprise being a payment of the outstanding balance. Kareem withdrawn RM1,500 from the company for his own personal use. 11. REQUIRED: (a) Show the effect of EACH TRANSACTION on the accounting equation using the following format; Cash + Acc-Receivable + Supplies + Equipment = Acc-Payable + Capital (12 Marks) (b) Journalise all transactions in (a). (5 Marks) (c) Prepare the Statement of Comprehensive Income (Income Statement) of Kencana for 2021. (Assume: Depreciation expense for office equipment is RM2000/year). (4 Marks) (d) (Assume: Prepare the Statement of Financial Position of Kencana for 2021. Depreciation expense for office equipment is RM2000/year). (4 Marks) ,C C F C V Aa Bbc E 19C W A212 TAKEHOME XM.docx QX AA 1 (e) Briefly explain and give TWO (2) example of respective accounts for each of the following: (i) Asset (ii) Liability (iii) Equity (iv) Revenue (v) Expense (5 Marks) END OF QUESTIONS I A212 HONOU...LEDGE FORM - 11 A X X2 A . MTERUL run LLJ A