Question
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:
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Record the above transactions on the Accounting Equation table.
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Prove that Asset = Liability + Equity
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