Question 1
Mr.Arshad established a tower agency on 1st Jan 2009 the transaction of the month as below
Deposit cash in the business account	$ 20,000.00
Purchase supply on credit term	$ 800.00
Received cash from the customer for services provided	$ 5,000.00
Pay by cheques to advertise the business in newspaper	$ 800.00
Made payment to supplier by cheques	$ 600.00
Owner took cash from the business for personal use	$ 300.00
Owner contribute office equipment for business use	$ 400.00
Provide services for customer and customer promise to pay next month	$ 4,000.00
(Q1a)- Decide each transaction is under asset,liability, increase or decrease of asset.
(Q1b)- Journal entry (T-Account)
(Q1c)- Identify appropriate Good of price entry to record transaction