Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help please QUESTION 2 (20 MARKS) Anita Apparel Enterprise owned by Puan Anita is in a business selling handbags and muslimah dress through online since
help please
QUESTION 2 (20 MARKS) Anita Apparel Enterprise owned by Puan Anita is in a business selling handbags and muslimah dress through online since year 2019. The business has been performing well since then. Below are some of the transactions extracted from Anita Apparel Enterprise for the month of February 2020: 2020 February Date Transaction 1 Purchased 10 units of Coach handbags at a price of RM200 per from Handbags Super Gred Wholesalers (HSGW) and paid by cash. unit 3 Returned 1 unit of the Coach handbag wrongly send by HSGW. 4 Puan Khadijah, a regular customer purchased 5 pieces of muslimah dress for her daughter. The price per unit of the dress is RM70. Puan Khadijah paid by cheque RM350. 5 Paid amount owing to HSGW by cheque. 8 Puan Khadijah returned back TWO(2) pieces muslimah dress due to colour faulty. Purchased a new cupboard for business use amounting RM5,000 by cash. 17 Bought inventories of muslimah dress amounting RM7,000 on credit from Zalinah Boutique. 19 Encik Ghazali, a neighbour of Puan Anita purchased a set of Bonia handbags for his wife amounting RM500 credit. 22 Puan Anita took one Prada handbag amounted RM600 for her to attend his husband company's dinner. 25 Paid utilities bill RM1,000 cash. Required: a. Show the effects upon ASSET, LIABILITY, CAPITAL, REVENUE, EXPENSE and DRAWINGS for the above transactions using the example below as a guide. Transactions Effect Bought motor vehicle worth Increase Asset RM10,000 by cash. Decrease Asset (10 marks) b. State the accounts to be debited and the accounts to be credited for the above transactions. (10 marks)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started