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Date 4 Dr. Rizal, a dentist, started his own business running a dental clinic on 1 January 2020. The business transactions for the month are
Date 4 Dr. Rizal, a dentist, started his own business running a dental clinic on 1 January 2020. The business transactions for the month are as shown below: Transactions De Hiral started the business with AED200,000 initial capitals in the bank. Dr. Rical purchased office furniture and fitting worth AED 30,000 on credit from TSOP Office Dr. Rizal purchased dental instruments for AED32,000 on credit from Gigi Enterprise. 16 Dr. Risal billed patients AED8,500 for services rendered, of which he received AED 2,500 in cash, and the balance was billed on account (due in 30 days) Dr. Rizal brought in a motor vehicle worth AEDS5,000 for the business use. 28 Paid utilities bills with AEDI,500 cash 31 Pald clinical assistants AED3,600 for salaries of January with cheques. Required: Analyze the effects that each of these transactions will have on the accounting equation of the business. Organize your answer in tabutar form. (Hirit: tAssets Expenses Vabilities + Capitak +Revenues) (5 marks). 18
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