The following transactions were recorded in the first month of Dr. Adam's business for Klinik Keluarga:

January 2020

Transactions

1

Started the business by investing RM50,000.

5

Bought office equipment for RM12,500 on credit from Medical Products.

8

Paid RM2,250 for various medical supplies for the office.

15

Received RM11,400 of fees earned during the first month operations.

19

Paid amounts owing to Medical Products amounting to RM1,780.

21

Withdrew RM1,500 for personal use.

25

Paid RM2,000 for medical assistant salary.

27

Paid RM3,500 for office rent.

29

The cost of medical supplies used was RM1,700.

30

Received a loan of RM15,000 from ATM Bank.

You are required to:

Analyse the effects of the above transactions to the accounting equation by using the format given below:

Assets

=

Liabilities

+

Owner's Equity