Below were transactions for the month of March 2021 for Aisyah, a sole trader: Date Business Transactions Started a business with RM20,000. Bought goods worth RM1,000 on credit from Nasir. Paid rent RM200 cash. Transferred RM12,000 of the business cash into the bank 1 2 4 account. Sold goods to Nurul RM600. Bought stationery by cheque RM50. Cash sales RM100. Returned goods worth RM150 to Nasir. Received commission RM100 by cash. 12 Required: Using the example provided below: a) Identify the effects (increase/decrease) of the above transactions on assets, liabilities, owner's equity, revenues and expenses.

Below were transactions for the month of March 2021 for Aisyah, a sole trader: Date Business Transactions Started a business with RM20,000. Bought goods worth RM1,000 on credit from Nasir. Paid rent RM200 cash. Transferred RM12,000 of the business cash into the bank 1 2 4 account. Sold goods to Nurul RM600. Bought stationery by cheque RM50. Cash sales RM100. Returned goods worth RM150 to Nasir. Received commission RM100 by cash. 12 Required: Using the example provided below: a) Identify the effects (increase/decrease) of the above transactions on assets, liabilities, owner's equity, revenues and expenses.

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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