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QUESTION 4 Below are the balance sheet items of Arius Cleaning Services for the month ended January 2021. Balance sheet item RM Assets 17,000
QUESTION 4 Below are the balance sheet items of Arius Cleaning Services for the month ended January 2021. Balance sheet item RM Assets 17,000 Liabilities Owner's Equity ? 14,800 During the month, the company's accountant recorded the following transactions: 1. Company purchased office equipment for cash amounting RM750. 2. The amount owing amounting RM200 was paid using cheque to trade payable, Mr Alle. 3. Mr Lee, the owner of the business invested a further RM2,000 cash in the business. 4. An additional motor vehicle was purchased on credit from Volvo Motors for RM4,000. Required: Summarised the above effects on the accounting equation based on the provided format. Example: Assets = Beginning 10,000 Received RM350 cash from trade receivable +350 -350 10,000 Liabilities 2,000 + Owner's Equity 8,000 2,000 8,000 (12 marks)
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