Question
Question 1: The following transactions were recorded in the first month of the business for Rosewood Enterprise: Date Transactions Sept 1 Puan Rosnah invested cash
Question 1:
The following transactions were recorded in the first month of the business for Rosewood Enterprise:
Date | Transactions |
Sept 1 | Puan Rosnah invested cash of RM20,000 into her business, called Rosewood Enterprise. |
Sept 3 | Rosewood Enterprise bought a few sets of furniture on credit at the price of RM2,500. |
Sept 5 | Rosewood Enterprise purchased equipment worth RM350 on credit from Buzz Sdn. Bhd. |
Sept 11 | Rosewood Enterprise received RM475 from customer for services provided. |
Sept 17 | Puan Rosnah withdrew cash of RM100 from the business for her personal use. |
You are required to analyse the effects of the above transactions to the accounting equation by using the format given below:
Assets | = | Liabilities | + | Owners Equity |
|
|
|
|
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started