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part 1 part 2 Question Completion Status: ZUS Wing to another questo WII Save Us Tesponse. Question 6 Part a (6.5 marks) Hessa's Catering Firm
part 1
Question Completion Status: ZUS Wing to another questo WII Save Us Tesponse. Question 6 Part a (6.5 marks) Hessa's Catering Firm was started on 1 March 2020. A summary of March transactions is presented below. Mar 1 Hessa invested AED 60,000 cash to start the catering company. Mar 2 Purchased equipment for AED 30,000. Paid AED 20,000 cash and remaining is on account Mar 3 Incurred AED 650 of advertising costs in the Emirates News on account. Mar 6 Provided catering service on account to customers AED 7,500. Mar 10 Collected cash for services billed on Mar 6. Mar 11 Paid salary AED 10,000 Using the table provided below, analyse the effect of the above transactions on the extended accounting equation. Part b (1.5 marks) Name the three components of Accounting equation used, to show that left side is equal to right side Parte (2 marks) Can a transaction have an effect on more than two accounts? Use an example from the above transactions to justify your answer. Use this table to answer part (a) (copy the table: highlight all parts of the table, right click, copy then paste, "Ctrl V", on the answer space. Liabilities Assets Owner's Equity Drawings Capital Receivable Payable Equipment Supplies + Revenue Expense Cash uestion Completion Status: transactions to justify your answer. Use this table to answer part (a) (copy the table: highlight all parts of the table, right click, copy then paste, "Ctrl V", on the answer space. Assets Liabilities Owner's Equity Cash Receivable Supplies Equipment Payable Capital Drawings Revenue Experise 1 2 3 6 10 11 Total III T III 22 25 Arial 3 (12pt) part 2
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