Homework answers / question archive / SECTION B  On 1st January 2021, Mr Akmal started a business known as Bicycle Sdn Bhd with cash in hand RM2,000, cash at bank RM13,000 and Furniture worth RM5,000 as a capital

SECTION B  On 1st January 2021, Mr Akmal started a business known as Bicycle Sdn Bhd with cash in hand RM2,000, cash at bank RM13,000 and Furniture worth RM5,000 as a capital

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SECTION B 
On 1st January 2021, Mr Akmal started a business known as Bicycle Sdn Bhd with cash in hand RM2,000, cash at bank RM13,000 and Furniture worth RM5,000 as a capital. The following transactions was occurred during the month of January. 
Date Month: January Transactions 2 Purchased bicycles worth 10,000 from Faster Sdn Bhd on credit. 5 Cash sales to Amir worth RM600. 11 Akmal took cash RM500 and buy gift for his wife. 12 Sold goods to Salwa on credit RM1,000. 17 Received cheque from salwa amounting 700. 18 Settle all debt to Faster Sdn Bhd by cheque and received discount 10%. 21 Akmal bought a Furniture for RM4,000 and paid by cheque . 29 Paid employee salary of RM1,000 by cheque. 
)1 C2: You are required to express the effect of the above transactions on assets, liabilities, equities, expenses and revenues by using the following format ( " + " as increase and " - " as decrease) by using the table below 
Effects on Assets + Expenses = Liabilities + Equities + Revenue Date Assets Expenses Liabilities Equities Revenue Example: January 1 Cash (RM100) Creditor: Abu (RM100) 
(20 marks)