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November 2019 Details Purchased goods worth RM 2,000 from Mini Market on credit. Some of the damaged goods worth RM200 were returned to Mini Market. Made cash sales worth RM500. The café provided catering service to Kamil Enterprise worth RM 4,000 on credit. Paid utility bills amounted to RM 1,500 by cash. Paid full amount to Mini Market on the purchased goods by cheque. Kamil Enterprise settled its account by cheque. Purchased a brand new microwave worth RM6,000 on credit from Bobo Equipment. Miss Jupiter took goods worth RM250 for her personal use. Delivered food to customer at several office premises and colleges. Total sales worth RM 2,000 for cash. Sent the business's delivery van to workshop for repairs. The cost was RM 600 and paid by cash. 11 15 19 22 25 29 Required: Identify the effects (increase or decrease) on assets, liabilities, revenues, expenses or owner's equity for the above transactions. a. b. Show the accounts to be debited and credited for all of the above transactions. 23

November 2019 Details Purchased goods worth RM 2,000 from Mini Market on credit. Some of the damaged goods worth RM200 were returned to Mini Market. Made cash sales worth RM500. The café provided catering service to Kamil Enterprise worth RM 4,000 on credit. Paid utility bills amounted to RM 1,500 by cash. Paid full amount to Mini Market on the purchased goods by cheque. Kamil Enterprise settled its account by cheque. Purchased a brand new microwave worth RM6,000 on credit from Bobo Equipment. Miss Jupiter took goods worth RM250 for her personal use. Delivered food to customer at several office premises and colleges. Total sales worth RM 2,000 for cash. Sent the business's delivery van to workshop for repairs. The cost was RM 600 and paid by cash. 11 15 19 22 25 29 Required: Identify the effects (increase or decrease) on assets, liabilities, revenues, expenses or owner's equity for the above transactions. a. b. Show the accounts to be debited and credited for all of the above transactions. 23

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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November 2019 Details Purchased goods worth RM 2,000 from Mini Market on credit. Some of the damaged goods worth RM200 were returned to Mini Market. Made cash sales worth RM500. The café provided catering service to Kamil Enterprise worth RM 4,000 on credit. Paid utility bills amounted to RM 1,500 by cash. Paid full amount to Mini Market on the purchased goods by cheque. Kamil Enterprise settled its account by cheque. Purchased a brand new microwave worth RM6,000 on credit from Bobo Equipment. Miss Jupiter took goods worth RM250 for her personal use. Delivered food to customer at several office premises and colleges. Total sales worth RM 2,000 for cash. Sent the business's delivery van to workshop for repairs. The cost was RM 600 and paid by cash. 11 15 19 22 25 29 Required: Identify the effects (increase or decrease) on assets, liabilities, revenues, expenses or owner's equity for the above transactions. a. b. Show the accounts to be debited and credited for all of the above transactions. 23
Transcribed Image Text:November 2019 Details Purchased goods worth RM 2,000 from Mini Market on credit. Some of the damaged goods worth RM200 were returned to Mini Market. Made cash sales worth RM500. The café provided catering service to Kamil Enterprise worth RM 4,000 on credit. Paid utility bills amounted to RM 1,500 by cash. Paid full amount to Mini Market on the purchased goods by cheque. Kamil Enterprise settled its account by cheque. Purchased a brand new microwave worth RM6,000 on credit from Bobo Equipment. Miss Jupiter took goods worth RM250 for her personal use. Delivered food to customer at several office premises and colleges. Total sales worth RM 2,000 for cash. Sent the business's delivery van to workshop for repairs. The cost was RM 600 and paid by cash. 11 15 19 22 25 29 Required: Identify the effects (increase or decrease) on assets, liabilities, revenues, expenses or owner's equity for the above transactions. a. b. Show the accounts to be debited and credited for all of the above transactions. 23
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