QUESTION 1 (20 marks)

1. KMI Company had the following transactions during November:
   1. Nov 1: Deposit RM100,000 in cash to start the business.
   2. Nov 5: Borrowed RM50,000 from the bank by signing a note payable.
   3. Nov 10: Purchase equipment by paying cash for RM25,000.
   4. Nov 15: Paid November rent of RM2,400 for the office space
   5. Nov 18: Performed services for customers and received cash immediately for RM8,000.
   6. Nov 20: Purchased RM2,000 in supplies on account.

Required:

1. Prepare a transaction analysis for the November transactions using the follow format. Remember to prove the accounting equation at the end.

	Assets			Liability		Equity	Revenue	Expense
Date	Cash	Supplies	Equipment	Accounts Payable	Notes Payable	Owners Equity	Service Revenue	Rent Expense
Balance: