Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can you do b question ? faster . i will like . thank you . sorry b. The following selected transactions took place in Nana
can you do b question ? faster . i will like . thank you . sorry
b. The following selected transactions took place in Nana Enterprise during July 2021. i. Received cash from owner Pn.Nana as additional capital RM45,000. ii. Purchased goods for resale on cheque from a supplier RM19,750. iii. Sold goods to a customer on account RM25,500. iv. Paid creditors RM12,200. v. Sent a debit note to a customer RM3,300. vi. Paid salaries to employees RM4,600. Required: Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owner's equity, Drawing, Revenue and Expenses) in the table below. Also indicate the specific item within the accounting equation element that is affected. To illustrate, the answer to (i) is shown below. Debit Credit i. Cash (Asset) Capital (Owner's equity ) (10 marks) increases by RM45,000 increases by RM45,000 ii. II iii. iv. c. The following is the list of incomplete trial balance as at 30 September 2021. V. viStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started