The following are the business transactions of Flora Florist for the month of October 2020: Oct 1 Started a business with capital of RM10,000.00. The money is deposited into the business bank account. 4 Bought a furniture and fittings for RM1,800.00, paid by cheque. 6 Bought an office equipment for RM2,500.00 on account. 8 Sold 5 bouquets of flowers amounting RM750.00 and received cash. 11 Obtained a loan of RM3,500.00 from a friend, Tina Richards. Deposited the money into the business bank account. 15 Sold 95 bouquets of flowers amounting RM3,325.00 to Sekolah Kebangsaan Proton City for a Year 6 Graduation. The school promised to pay at a later date. 18 Drawings RM250.00 by cheque. 23 Sold 15 bouquets of flowers amounting RM825.00 and received cash. 28 Paid wages RM500.00 and rent RM400.00 by cheques respectively. Required: Determine the effect of each transaction on the accounting equation.
- The following are the business transactions of Flora Florist for the month of October 2020:
|
Oct 1 |
Started a business with capital of RM10,000.00. The money is deposited into the business bank account. |
|
4 |
Bought a furniture and fittings for RM1,800.00, paid by cheque. |
|
6 |
Bought an office equipment for RM2,500.00 on account. |
|
8 |
Sold 5 bouquets of flowers amounting RM750.00 and received cash. |
|
11 |
Obtained a loan of RM3,500.00 from a friend, Tina Richards. Deposited the money into the business bank account. |
|
15 |
Sold 95 bouquets of flowers amounting RM3,325.00 to Sekolah Kebangsaan Proton City for a Year 6 Graduation. The school promised to pay at a later date. |
|
18 |
Drawings RM250.00 by cheque. |
|
23 |
Sold 15 bouquets of flowers amounting RM825.00 and received cash. |
|
28 |
Paid wages RM500.00 and rent RM400.00 by cheques respectively. |
Required:
Determine the effect of each transaction on the
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