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Hashem started a business that offers legal services on 1 December 2019 . The following are transactions occurred during the month of December 2019: Hashem
Hashem started a business that offers legal services on 1 December 2019. The following are transactions occurred during the month of December 2019:
- Hashem brought in RM50,000 cash and office equipments worth RM12,000 into the business.
- Bought a car for his own use worth RM112,000 by paying cash (companys money) of RM12,000 and signing a note payable for the balance.
- Provided legal services to a client worth RM7,000 and received cash of RM3,000 from the client.
- Purchased office supplies worth RM2,000 cash.
- Paid RM700 cash for advertising expenses for the months of December 2019.
- Sent a bill totaling RM5,000 to a client for the legal service provided and yet to receive payment.
- Received RM3,000 cash as an agreement to start work as a legal advisor for a company starting February 2020.
- Paid RM3,600 cash for employees salary.
- Paid RM2,400 cash for December office rental.
- 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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