EXERCISE 1: DOUBLE ENTRY ACCOUNTING Alia Maisarah is the owner and operator of Alia's Bakery, a shop that runs a business making cakes and biscuits in Parit Raja, Batu Pahat. On September 1, 2018, Alia's Bakery has the following assets and liabilities: cash RM2000; accounts receivable RM2200; supplies RM700; account payables RM1500. Business transactions during September 2018 are summarized as follows: a) Received cash from Alia Maisarah as an additional investment, RM6500. b) Paid creditors on account, RM900. c) Paid shop rent for the month, RM1015. d) Received cash from customers for supplying services of cakes and biscuits, RM850. e) Purchased office supplies on account, RM225. f) Paid the following: wages expense, RM850; utilities expense, RM315; and Miscellaneous expense, RM85. g) Alia withdrew RM1500 in cash from the business for personal use. Instructions: 1) Determine the amount of owner's equity (Alia Maisarah's capital) as of September 1, 2018. 2) State the assets, liabilities, and owner's equity as of September 1, 2018 in equation form similar to that shown in this chapter. In tabular form below the equation, indicate the increase and decrease resulting from each transaction and the new balances after each transaction 3) Prepare income statement for September 2018, a statement of owner's equity, and a balance sheet as of September 30, 2018. 4) Prepare statement of cash flows for September 2018