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Question 3 (20 marks) Mr.Syazani, a sole trader started his photocopy business on 1 August 2021 under the name of Syazani Enterprise. The following are
Question 3 (20 marks) Mr.Syazani, a sole trader started his photocopy business on 1 August 2021 under the name of Syazani Enterprise. The following are his business transactions for the month of August. . On 1 August, Mr. Syazani invested RM35,000 cash into the business. On 4 August. Syazani Enterprise purchased photocopy machine for RM7,000 by credit from Toshiba Malaysia. On 10 August. Mr Syazani withdrew cash for personal use RM1,500 On 20 August, paid utilities expenses for the month of RM1,560 and miscellaneous expenses of RM500. On 28 August, paid monthly salary of RM1,200 for the shop assistant. . Required: Indicate the effects and double entry principles for each of the above transactions using the following tabular fomat Example Transactions Effect Double entry Debit telephone bills RM150 Paid telephone bills of increase in expenses RM150 by cash Decrease in assets Credit cash RM150
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