Question
The following transactions of Gemilang Enterprise occurred during the month of April 2021: Date Transactions April 1 Adib, the owner of Gemilang Enterprise invested RM10,000
The following transactions of Gemilang Enterprise occurred during the month of April 2021:
Date | Transactions |
April 1 | Adib, the owner of Gemilang Enterprise invested RM10,000 of his personal savings into the companys account. |
2 | Rented office space and paid RM1,200 cash for the month of April. |
3 | Purchased of office equipment for RM30,000, paying RM8,000 cash and the balance to be paid in one year period. |
4 | Purchased office supplies for RM750 cash. |
8 | Completed services for a client and received RM2,700 cash for the services. |
15 | Completed services RM3,600 for a client on credit. |
20 | Received RM3,600 from a client for the work completed on 15 April. |
28 | Paid the office secretarys monthly salary, RM1,200 cash. |
30 | Adib withdrew RM2,000 for his personal use. |
You are required to:
- Show the effects of the above transactions on the accounting equation;
Asset = Liability + Equity.
(12.5)
- Calculate the ending balance of each account in (a) and the total of the accounting equation.
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