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The following transactions occurred in the first month of the business operation: No Transactions Effect on Assets Liabilities Equity Example Commission received, RM200 Increase Increase

The following transactions occurred in the first month of the business operation:

No

Transactions

Effect on

Assets

Liabilities

Equity

Example

Commission received, RM200

Increase

Increase

1

Introduced capital of RM50,000 cash into the business.

2

Withdrew RM500 cash to pay for his mothers medical bills.

3

Bought a van on credit RM70,000 from Proton.

4

Customer paid the business RM6,300.

5

The business pay supplier RM2,700 through online banking.

6

Repaid a RM780 loan owed to Robert by cash.

7

Paid internet bills RM200.

8

Purchased goods by cash RM1,200.

9

Opened a bank account at MAYBANK and deposited RM30,000 cash.

10

Paid to staff salary by cheque amounting to RM2,600.

Required: Complete the above columns to show the effects (Increase/Decrease) of the transactions.

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