Question 3

Note to tutor: View the excel file of this question in the comment section at below to open and do the answers .

Madam Masliza started a beauty spa and salon business on July 2019. The following are the transactions on the month of August 2019. 1. Invested RM20,000 cash and fittings worth RM8,000 in the business. 11. Paid shop rental of RM750 by cash Ill. Purchased additional fittings worth RM5,000 on credit. IV. Received revenue of RM1,100 from the service rendered and facial collection sold by cash. V. Purchased additional fittings worth RM2,200 by cash. VI. Received revenue of RM2,400 from the services rendered. VII. Paid for the fittings bought in option (III) Required: Complete the table below by recording each of the above transaction based on the double-entry principles. Use adds sign (+) or minus sign (-) to indicate the effect of each transaction on the accounting equation. [Total: 20 marks]