Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Record the following transactions in columnar form to show the effect on accounting equation Date 2020 Jan 1 2 5 6 Bought office equipment

  

Record the following transactions in columnar form to show the effect on accounting equation Date 2020 Jan 1 2 5 6 Bought office equipment for RM2,000 by cash 15 Sold goods on credit worth RM4,000 to Azan. 11 Took cash RM40 for personal use Darren started its business with cash in hand RM75,000. Bought second hand car worth RM45,000 on credit from Khoo Motors. Cash sales RM3,000. 18 Commission received RM200. 28 Paid rent RM500, wages RM900 dan electricity RM100 by cash 30 Received cash from Azan RM4,000. 30 Borrowed RM15,000 from Bank Dooit. DATE Jan 1 Jan 2 Jan 5 Jan 6 Jan 11 Jan 15 Jan 18 Jan 28 Jan 30 Balance Cash in Motor Office hand Vehicle Equipment +75000 +3000 -2000 -4000 -40 +200 -500 -900 -100 Assets +70660 +45000 +45000 +2000 +2000 Trade receivable -Azan +4000 Bank +4000 +4000 Liabilities Bank Dooit Khoo Motors +4000 +4000 +45000 +45000 Capital-Drawings +75000 +74960 Owner's equity Profit/Loss (Income- Expenses) +3000 Sales +4000Sales +200 Commision received -500 rent -900 wages -100 electricity +5700

Step by Step Solution

3.40 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Date Jan 1 2 5 01 5 15 11 18 28 30 30 Assets Cash RM75000 C... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

11th edition

978-1111528300, 1111528128, 1111528306, 978-1111528126

More Books

Students also viewed these Accounting questions