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Dr Hisham opened a motivation consultancy business on January 1, 2018. The following business transactions occurred in the month of March 2018: March 1 Shareholder

Dr Hisham opened a motivation consultancy business on January 1, 2018. The following business transactions occurred in the month of March 2018:

March

1

Shareholder invested RM50,000 in cash and received 50,000 ordinary shares.

4

Purchased office supplies RM500 by cash and office equipment RM2,200 on credit.

17

Provided motivation workshops to several clients and received cash, RM3,000.

20

Provided service to several corporate clients RM8,200 on account. Invoices (or bills) have been sent out for payment.

25

Paid salary expense, RM2,600 and rent expense, RM1,700.

29

Received payment from clients for services performed on March 20.

Required:

  1. Record the above transactions on the Accounting Equation table.

  2. Prove that Asset = Liability + Equity

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