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Based on the details below, calculate the drawings: During 2021 the Daya company had the following assets and liabilities: Vehicle RM400,000, Building RM800,000, Cash RM50,000,
Based on the details below, calculate the drawings: During 2021 the Daya company had the following assets and liabilities: Vehicle RM400,000, Building RM800,000, Cash RM50,000, Accounts Receivable RM270,000, Office supplies RM50,000, Accounts Payable RM150,000, and Bank Overdraft RM100,000. During 2022 the Daya company had the following assets and liabilities: Vehicle RM600,000, Building RM900,000, Bank RM80,000, Bank 150,000, Cash RM10,000, Accounts Receivable RM370,000, Accounts Payable RM50,000, and Loan RM800,000. Daya company's revenue and expenses are: Revenue RM980,000 and Expenses RM480,000. (5 marks) Question 3 Explain the following terms: i. Going concern assumptions ii. Owner's equity iii. Separate business entity iv. Historical cost
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