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answer plz 4. Define and give at least two (2) example of accounting term below if required. 1. Assets II. Liabiliry III. Owner's Equity IV.
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4. Define and give at least two (2) example of accounting term below if required. 1. Assets II. Liabiliry III. Owner's Equity IV. Revenue V. Expenses VL. Cash Basis VII. Accrual basis VIII. Income Statement IX. Statement of Owner's Equity X. Statement of Balance Sheet XI. Statement of Cash Flow Problem I: Transactions If January 2019, Miss Nancy opens a business. The transaction incurred as follows:- 1) Invested RM 10,000 cash to start the basiness. 2) Purchase equipment for RM 5,000 cash. 3) Paid RM 400 cash for January oflice rent. 4) Received RM 5,100 from customers for service provides. 5) Withdrew RM 1,000 cash for personal use. 6) Paid part-time ermployee salaries of RM 2,000 . 7) Incurred RM 250 of advertising cost, an account. 8) Provided RM 750 of services on account to customers. 9) Collected RM 120 cash for services previously bilied. Required: I. Prepare the analysis of the folkowing transactions for the month of January for Miss Nancy. Used the beloa table for your analysis. 2. Prepared the Income Statement for the month ended 31 January 2019. 3. Prepared the Statement of Owner's Equity for the month 2. Lists the internal and extcral users of accounting data and explain the purpose of each user? 3. Differentiate the three (3) forms of besiness ownership? 4. Define and give at least two (2) example of accourting term below if required. 1. Assets II. Liability III. Owner's Equity IV. Reweaue V. Bxpenses V1. Cash Basis VIL Accrual basis VIII, Incocne Statcment IX. Statement of Owner's Equity X. Statement of Balabce Sbeet X1. Statement of Cash Flow Problem 1: Transactions 1st January 2019, Miss Nancy opens a business. The transaction incurred as follows:- 1) Invested RM 10,000 eash to start the business. 2) Purchase equijoment for RM 5,000cash. 3) Paid RM 400 cash for 3anuary office rent. 4) Received RM 5,100 from customers for service provides. 5) Wuthdrew RM 1,000 cash for personal use. 6) Paid part-time cmployee salaries of RM 2:000. 7) Incurred RM 250 of advertising cost, on account. 8) Provided RM 750 of services on account to custemers. 9) Collected RM 120 cash for services previocsly billed. Required: 1. Prepare the analysis of the following transactions for the month of January for Miss Nancy. Used the below table for your analysis. 2. Prepared the Income Statement for the month esded 31 January 2019, 3. Prepared the Srasement of Owner's Equiry for the month codod 31 January 2019 and, 4. Prepared the Balance Shect as at 31 Janury 2019 Step by Step Solution
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