Question
Hasaz started a business that selling pillows on 1 December 2019. The following are transactions occurred during the month of December2019: Hasaz brought in RM50,000
Hasaz started a business that selling pillows on 1 December 2019. The following are transactions occurred during the month of December2019:
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Hasaz brought in RM50,000 cash and office equipment worth RM12,000 into the business.
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Bought a car for his personal use worth RM112,000 by paying cash (businesss money) of
RM12,000 and signing a personal loan for the balance.
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Sold pillows to a client worth RM7,000 and received cash of RM3,000 from the client.
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Purchased office supplies worth RM2,000 cash.
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Paid RM700 cash for advertising expenses for the months of December2019.
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Sent a bill amounting RM5,000 to a client for sold pillows. Payment has not been received
yet.
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Received commission worth RM2,500.
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Paid RM3,600 cash for employees salary.
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Paid RM2,400 cash for December office rental.
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As at 31 December 2019, the office supplies used is RM400.
Based on the above information, you are required to:
Show the effects of all the above transactions in the accounting equation
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