Reference no: EM132614069

Ms Dalla started a beauty salon business on August 2019. The following are the transactions for the month of August:

August 1

Ms Dalla invested RM15,000 cash in her business and deposited the money in the bank account.

1

Paid rental for shop worth RM800 by cheque.

2

Purchased goods worth RM420 by cheque.

3

Paid RM200 for the office cleaning expenses for the month of August by cheque.

8

Cash sales worth RM150.

10

Received commission RM200 cash from Medina Enterprise.

12

Sold goods RM750 on credit to Sarah Enterprise.

15

Paid salary of RM225 by cheque to the shop assistant.

20

Sold goods RM700 on credit to Atiqah Enterprise.

22

Purchased goods worth RM250 on credit from Helena Enterprise

25

Paid RM140 for telephone bill for the month of August by cheque.

27

Paid utilities bill of RM225 by cheque to Tenaga Nasional Berhad.

30

Ms Dalla took out cash RM300 from bank account for personal use.

Question a) Based on the expanded accounting equation, show the effect of each transaction on the accounting equation. Use (+) sign to indicate an increment and (-) sign to indicate a decrease.

Question b) Calculate the total assets, liabilities and Owner's equity as at 30 August.