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Below are the transactions of Darren Electric Shop for the month of March 2021. No Transactions Example 1 March 3 March 4 March 10 March 12 March 14 March 16 March 19 March 20 March 31 March Required: Commission received, RM200 The owner started business with RM550,000 cash. Purchased goods from supplier on credit amounting RM300,000. Sold goods on credit to Sofia worth RM6,500. Bought furniture on credit from HomePro Bhd. worth RM14,000. Paid general expenses RM400 by cash. The owner brought in his car valued at RM42,000 into the business. The owner took a microwave oven worth RM300 for his personal use. Received a loan of RM200,000 from CIMB Bank. Paid electricity bill RM225 by cheque to Tenaga Nasional Bhd. Paid to staff salary by cheque amounting to RM25,600. Assets Increase Effect on Liabilities Equity Increase Complete the above columns to show the effects (Increase/Decrease) of the transactions.

Below are the transactions of Darren Electric Shop for the month of March 2021. No Transactions Example 1 March 3 March 4 March 10 March 12 March 14 March 16 March 19 March 20 March 31 March Required: Commission received, RM200 The owner started business with RM550,000 cash. Purchased goods from supplier on credit amounting RM300,000. Sold goods on credit to Sofia worth RM6,500. Bought furniture on credit from HomePro Bhd. worth RM14,000. Paid general expenses RM400 by cash. The owner brought in his car valued at RM42,000 into the business. The owner took a microwave oven worth RM300 for his personal use. Received a loan of RM200,000 from CIMB Bank. Paid electricity bill RM225 by cheque to Tenaga Nasional Bhd. Paid to staff salary by cheque amounting to RM25,600. Assets Increase Effect on Liabilities Equity Increase Complete the above columns to show the effects (Increase/Decrease) of the transactions.

FINANCIAL ACCOUNTING
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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Below are the transactions of Darren Electric Shop for the month of March 2021. No Transactions Example 1 March 3 March 4 March 10 March 12 March 14 March 16 March 19 March 20 March 31 March Required: Commission received, RM200 The owner started business with RM550,000 cash. Purchased goods from supplier on credit amounting RM300,000. Sold goods on credit to Sofia worth RM6,500. Bought furniture on credit from HomePro Bhd. worth RM14,000. Paid general expenses RM400 by cash. The owner brought in his car valued at RM42,000 into the business. The owner took a microwave oven worth RM300 for his personal use. Received a loan of RM200,000 from CIMB Bank. Paid electricity bill RM225 by cheque to Tenaga Nasional Bhd. Paid to staff salary by cheque amounting to RM25,600. Assets Increase Effect on Liabilities Equity Increase Complete the above columns to show the effects (Increase/Decrease) of the transactions.
Transcribed Image Text:Below are the transactions of Darren Electric Shop for the month of March 2021. No Transactions Example 1 March 3 March 4 March 10 March 12 March 14 March 16 March 19 March 20 March 31 March Required: Commission received, RM200 The owner started business with RM550,000 cash. Purchased goods from supplier on credit amounting RM300,000. Sold goods on credit to Sofia worth RM6,500. Bought furniture on credit from HomePro Bhd. worth RM14,000. Paid general expenses RM400 by cash. The owner brought in his car valued at RM42,000 into the business. The owner took a microwave oven worth RM300 for his personal use. Received a loan of RM200,000 from CIMB Bank. Paid electricity bill RM225 by cheque to Tenaga Nasional Bhd. Paid to staff salary by cheque amounting to RM25,600. Assets Increase Effect on Liabilities Equity Increase Complete the above columns to show the effects (Increase/Decrease) of the transactions.
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