QUESTION 1 Maliq Company had the following transactions for the month of January 2021.

1. Paid RM1,100 for utility expense. (Example answer as below) 2. Purchased event supplies amounted RM5,600 on credit. 3. Shareholder invested additional RM15,000 cash in exchange for ordinary shares. 4. Received advance payment amounted RM1,100 for services next month. 5. Accrued salary expense for the month amounted RM2,500.

Required: (a) Starting from transaction (2), indicate the impact on the accounting equation. For example, answer (1): Decrease Assets, Decrease Equity .

(b) The THREE (3) accounting activities are Identifying, Recording and Communicating. Bookkeeping is part of which accounting activity?

(c) Describe the FOUR (4) Financial Statements and how they are prepared.