Question
On April 1, Khalid established Khalid Travel Agency. The following transactions were completed during the month: 1.Invested RM15,000 cash to start the agency. 2.Paid RM600
On April 1, Khalid established Khalid Travel Agency. The following transactions
were completed during the month:
1.Invested RM15,000 cash to start the agency.
2.Paid RM600 cash for April office rent.
3.Purchased equipment for RM3,000 cash.
4.Incurred RM700 of advertising costs in the Star Times, on account.
5.Paid RM900 cash for office supplies.
6.Performed services worth RM10,000: RM3,000 cash is received from customers,
and the balance of RM7,000 is billed to customers on account.
7.Withdrew RM600 cash for personal use.
8.Paid Star Times RM500 of the amount due in transaction (4).
9.Paid employees' salaries RM2,500.
10. Received RM4,000 in cash from customers who have previously been billed in
Transaction (6).
REQUIRED:
Show the effects of the transactions above on the accounting equation table.
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