Question 1Below were transactions for the month of March 2021 for Aisyah, a sole trader:Date Business TransactionsStarted a business with RM20,000.Bought goods worth RM1,000 on credit from Nasir.Paid rent RM200 cash.123Transferred RM12,000 of the business cash into the bankaccount.Sold goods to Nurul RM600.Bought stationery by cheque RM50.Cash sales RM100.Returned goods worth RM150 to Nasir.Received commission RM100 by cash.47812Required: Using the example provided below:a) Identify the effects (increase/decrease) of the above transactions on assets, liabilities, owner'sequity, revenues and expenses.b) Identify the double entry to record the transactions above.Example:1 July 2021 Fuzi brought in RM100,000 cash and deposit the money into the business bankaccount.2021July 1EffectsAccount to be debitedAccount to be creditedIncrease assetsBankIncrease owner equityCapital

Name: Question 1Below were transactions for the month of March 2021 for Ais
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Description: Question 1Below were transactions for the month of March 2021 for Aisyah, a sole trader:Date Business TransactionsStarted a business with RM20,000.Bought goods worth RM1,000 on credit from Nasir.Paid rent RM200 cash.123Transferred RM12,000 of the bu

Every Journal Entry passed in the books of accounts has two aspects which are called debit and…

Business

Accounting

Date Business Transactions Started a business with RM20,000. Bought goods worth RM1,000 on credit from Nasir. 3 2 Paid rent RM200 cash. Transferred RM12,000 of the business cash into the bank 4 account. Sold goods to Nurul RM600. Bought stationery by cheque RM50. 7 6 Cash sales RM100. 8 Returned goods worth RM150 to Nasir. Received commission RM100 by cash. 12 1: Using the example provided below: ffe trenegotione en ogeete liebilitien

Date Business Transactions Started a business with RM20,000. Bought goods worth RM1,000 on credit from Nasir. 3 2 Paid rent RM200 cash. Transferred RM12,000 of the business cash into the bank 4 account. Sold goods to Nurul RM600. Bought stationery by cheque RM50. 7 6 Cash sales RM100. 8 Returned goods worth RM150 to Nasir. Received commission RM100 by cash. 12 1: Using the example provided below: ffe trenegotione en ogeete liebilitien

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter3: The Double-entry Framework

Section: Chapter Questions

Problem 6SEA: TRANSACTION ANALYSIS Linda Kipp starred a business on May 1, 20--. Analyze the following...

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