Assume that you are opening a merchandising company in Malaysia. You are required to create business transactions for two months of your business entity. ASSET RM Cash in hands 15,000 Cash in bank 25,000 account Buildings 20,000 Inventory 16,000 Equipment 13,000 Total assets $9,000 LIABILITIES Common stock 4,000 Loans 26,000 Total liabilities 29,000 1) Value of beginning and ending inventory for the two months period 2) Types of expenses incurred and other revenue eamed. 3) Acquisition of non-current assests, Policy of the business is to depreciate non- current assets on monthly basic.
Assume that you are opening a merchandising company in Malaysia. You are required to create business transactions for two months of your business entity. ASSET RM Cash in hands 15,000 Cash in bank 25,000 account Buildings 20,000 Inventory 16,000 Equipment 13,000 Total assets $9,000 LIABILITIES Common stock 4,000 Loans 26,000 Total liabilities 29,000 1) Value of beginning and ending inventory for the two months period 2) Types of expenses incurred and other revenue eamed. 3) Acquisition of non-current assests, Policy of the business is to depreciate non- current assets on monthly basic.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Assume that you are opening a merchandising company in Malaysia. You are
required to create business transactions for two months of your business entity.
ASSET
RM
Cash in hands
15,000
Cash in bank
25,000
account
Buildings
20,000
Inventory
16,000
Equipment
13,000
Total assets
$9,000
LIABILITIES
Common stock
4,000
Loans
26,000
Total liabilities
29,000
1) Value of beginning and ending inventory for the two months period
2) Types of expenses incurred and other revenue eamed.
3) Acquisition of non-current assests, Policy of the business is to depreciate non-
current assets on monthly basic.
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