Business, 22.02.2021 17:00 junior2461

Ms Rosni started a beauty salon business on 1 July and plans to prepare the income statements for each month The following are the transaction in the month of August:

Transaction

1. Invested RM 20,000 cash and fittings worth RM 8,000 in the business
2. Paid shop rental of RM 750
3. Purchased additional fittings worth RM 5,000 on credit
4. Received revenue of RM1,100 from the service rendered and facial collection sold for the first and
second week of the month
5. Purchased additional fittings worth RM 2,200 in cash
6. Received revenue of RM 2,400 from the services rendered in the third and fourth week of the month
7. Paid for fittings bought in transaction (3)
Students are required to
Prepare an analysis of the above transaction using the format given

Example

Assets Liabihnes + Owners Equity
RM20.000 (+ Cash RM8,000/ Fillings) = 0 +RM 28,000 + Capital)

Answers: 3

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Ms Rosni started a beauty salon business on 1 July and plans to prepare the income statements for ea...