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How much the company assets would be after transaction

Assignment Help Financial Accounting
Reference no: EM132939261

Problem 1: Hire purchase loan for motor vehicle where the tenure of the loan is 5 years, will be recorded in which section of the company balance sheet?

(a) Non Current Assets

(b) Current Assets

(c) Current Liabilities

(d) Non Current Liabilities

Problem 2 & 3 are based on the following information:

As at 31st December 2020, Amanah Amir Sdn Bhd (AASB) has the following items in their ledger account, Motor Vehicle RM50,000, Bank RM50,000, Stocks RM15,000, Bank Loan RM50,000, Debtors RM20,000 and Creditors RM15,000.

Problem 2: What was AASB capital as at 31st December 2020?

(a) RM70,000

(b) RM50,000

(c) RM100,000

(d) RM20,000

Problem 3:  On 1st January 2021, AASB buy computer worth RM5,000 using the company cheque. How much the company assets would be after these transactions?

(a) RM120,000

(b) RM125,000

(c) RM130,000

(d) RM135,000

Problem 4:  Pay creditors of RM10,000 using the company cheque will result in?

(a) Reduce liabilities & Reduce assets

(b) Reduce assets & Increase assets

(c) Increase liabilities & Increase assets

(d) Increase liabilities & Reduce assets

Reference no: EM132939261

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