TIME: 3 HOURS INSTRUCTIONS 100 MARKS) Answer ALL Ouestions in the Answer Booklet (20 MARKS) QUESTION Vivian, opened a hair salon, VV Hairven (VVH) which started the operation on 1 January 2017 VVH operated in Subang Jaya On 1t January 2017, Vivian introduced cash of RM55,000, an equipment that cost F the same day, MicroFinance Bank released RM10,000 cash as loan to VV Hairven. During January 2017, VVH eaned revenue RM25,078 and had the following expenses: Salaries Rent Utilities RM 5,000 3,200 On 27% January 2017, Vivian withdrew RM1,000 for personal use. She recorded this transaction as an increase expense and decrease in cash. Required: a) What was the owner's equity amount as at 1st January 2017? [CLO 1 : PLO I :C i ](5 marks b) Calculate the net income (or net loss) for the month of January 2017. (Prepare the Statement Profit or Loss) [CLOI:PLO1:C2(5 marl e) Determine whether the treatment for Vivian's withdrawal is appropriate or not? Explain CLOI:PLOL:C21(4 ma CLO1:PLO1:C216 m correct accounting treatment. Explain any THREE (3) accounting principles that applied by VV Hairven