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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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