QUESTION 3

Below are the transaction for Sintokish Enterprise as October 2020:

Oct1 Contributed RM30,000 of cash and RM20,000 of equipment to start the business. Oct 3 BorrowedRM80,000 from the bank by signing a notes payable. Oct 15 Purchaseda van by paying cash for RM75,000. Oct 17 Paid January rent of RM1,500 for the office space by credit. Oct 22 Performed services for customers and received cash immediately for RM20,000. Oct 23 PurchasedRM600 in supplies on account. Oct 25 Performed services for customers and will collect next month of RM123,000 Oct 26 Withdrew of cash RM700 and equipment RM300. Oct 28 Paid RM1000 to the bank for notes payable. Oct 30 Paid half of amount for Oct 23 transaction.

REQUIRED: Analyze the above transactions by preparing accounting equation for Sintokish Enterprise.