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Question 2 Mesra Mart opens its new branch at Bangi, Selangor. Kamal Ahmad is appointed a accountant at the new branch. The following transactions occurred
Question 2 Mesra Mart opens its new branch at Bangi, Selangor. Kamal Ahmad is appointed a accountant at the new branch. The following transactions occurred during the month o March 2021. March Transaction 1 Invested RM110,000 cash in business bank account. 2 Paid commission expenses of RM1,800. 4 Paid advertising expenses of RM3,500. 5 Bought office furniture and equipment by cash RM15,500. 7 Purchased goods on credit from Kemang's Ltd worth RM17,000. 9 Cash sales of RM16,500. 12 Sold goods on credit to Cempaka, RM7,500. 15 Paid RM10,000 by cheque for the transaction on March 7. 18 Owner took out cash from the business bank account RM1,700 for her car's road tax and insurance. 20 Sold on credit to Gemilang Store for RM4,000. 24 Received cheque amounted RM4,500 from Cempaka for the transaction on March 12. 29 Paid utilities bills amounted RM2,000 by cheque. 30 Paid employees' salaries RM6,600 by cheque. 31 Paid RM2,200 for rent for the month. Required: Prepare the tabular analysis of March transaction AND calculate total assets, total liabilities owner's equity, revenue and expenses. (Show the effect of each transaction on the Accounting Equation. Use '+' to indicate increase and to indicate decrease)
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