Please help solve all questions QuestionThe following transactions related to Muthu Barber Shop.No.DateTransaction1 Dec 2020Mr. Muthu started his business, Muthu Barber Shop with cashRM3,000 and equipment worth RM4,000.2 Dec 2020He bought additional equipment with cash of RM1,000 from Ah Beng.35 Dec 2020Mr. Muthu returned some equipment worth RM200. These equipmentwere bought on 2 Dec. 2020. He received cash refund for returning theequipment on the same day.48 Dec 2020Mr. Muthu bought RM300 worth of goods from Pak Tam on credit. Thegoods consist of scissors and hair trimmers for his barber shop.8 Dec 2020Mr. Muthu paid RM50 cash to Lala Move for the transportation of thegoods purchased from Pak Tam.610 Dec 2020Mr. Muthu returned goods worth RM100 to Pak Tam because the itemswere damaged during transportation712 Dec 2020Mr. Muthu checked his record and noted he made RM500 cash salesfrom his 1st day of business until 12 Dec. 2020. He has yet to record allthese transactions which amounting to RM500.813 Dec 2020Mr. Muthu paid the balance of the amount owing to Pak Tam.9.14 Dec 2020Mr. Muthu purchased a used motorcycle worth RM2,500 cash. Heplans to ride this motorcycle to his barbershop.1018 Dec 2020A full year depreciation is to be provided for the motorcycle at 25%depreciation per year.1120 Dec 2020Tom, his regular customer, requested Mr. Muthu to come to his housefor a haircut. Mr. Muthu charged extra RM5 as transportation cost ontop of the price for the haircut, RM20.1223 Dec 2020Mr. Muthu takes out RM100 cash for his personal use.1325 Dec 2020Mr Muthu decided to take RM150 worth of equipment for his personaluse.1428 Dec 2020Steven, another regular customer, did not pay cash for his haircut.Total amount due as at 15 Dec. was RM100 for his 2 previous visitstogether with his kids. He was declared bankrupt and unable to pay thedebt he owed to Mr. Muthu.1531 Dec 2020Mr. Muthu transferred his cash in hand RM300 to his Maybank'sbusiness bank account.1631 Dec 2020Mr. Muthu paid the electricity bill RM120 using Jompay via Maybank2u.Required:Enter all the transactions in the relevant T-accounts. Any balance at the end of the month to be brought forward to the nextaccounting month or transferred to the Income Statement. Assume the first year end of the business is 31 December 2020.

Preparation of T- Account of Mathur Barber Shop

Question The following transactions related to Muthu Barber Shop. No. Date Transaction 1 1 Dec 2020 Mr. Muthu started his business, Muthu Barber Shop with cash RM3,000 and equipment worth RM4,000. 2 Dec 2020 He bought additional equipment with cash of RM1,000 from Ah Beng. Mr. Muthu returned some equipment worth RM200. These equipment were bought on 2 Dec. 2020. He received cash refund for returning the 2 3 5 Dec 2020 equipment on the same day. Mr. Muthu bought RM300 worth of goods from Pak Tam on credit. The goods consist of scissors and hair trimmers for his barber shop. 4 8 Dec 2020 5 8 Dec 2020 Mr. Muthu paid RM50 cash to Lala Move for the transportation of the goods purchased from Pak Tam. 6 10 Dec 2020 Mr. Muthu returned goods worth RM100 to Pak Tam because the items were damaged during transportation 7 12 Dec 2020 Mr. Muthu checked his record and noted he made RM500 cash sales from his 1st day of business until 12 Dec. 2020. He has yet to record all these transactions which amounting to RM500. 13 Dec 2020 Mr. Muthu paid the balance of the amount owing to Pak Tam. 14 Dec 2020 Mr. Muthu purchased a used motorcycle worth RM2,500 cash. He 8 9 plans to ride this motorcycle to his barbershop. 10 18 Dec 2020 A full year depreciation is to be provided for the motorcycle at 25% depreciation per year. 11 20 Dec 2020 Tom, his regular customer, requested Mr. Muthu to come to his house for a haircut. Mr. Muthu charged extra RM5 as transportation cost on top of the price for the haircut, RM20. 12 23 Dec 2020 Mr. Muthu takes out RM100 cash for his personal use. 13 25 Dec 2020 Mr Muthu decided to take RM150 worth of equipment for his personal use. 28 Dec 2020 Steven, another regular customer, did not pay cash for his haircut. Total amount due as at 15 Dec. was RM100 for his 2 previous visits 14 together with his kids. He was declared bankrupt and unable to pay the debt he owed to Mr. Muthu. 15 31 Dec 2020| Mr. Muthu transferred his cash in hand RM300 to his Maybank's business bank account. 16 31 Dec 2020 Mr. Muthu paid the electricity bill RM120 using Jompay via Maybank2u. Required: Enter all the transactions in the relevant T-accounts. Any balance at the end of the month to be brought forward to the next accounting month or transferred to the Income Statement. Assume the first year end of the business is 31 December 2020.