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Tutorial Accounting Equation - DPA10013

The document discusses accounting transactions and how they affect the accounting equation. It provides examples of business transactions and asks the reader to identify which accounting elements are affected and whether they increase or decrease as a result of the transactions. It also asks the reader to state the effect of sample transactions.

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Syakilah Razali
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31 views3 pages

Tutorial Accounting Equation - DPA10013

The document discusses accounting transactions and how they affect the accounting equation. It provides examples of business transactions and asks the reader to identify which accounting elements are affected and whether they increase or decrease as a result of the transactions. It also asks the reader to state the effect of sample transactions.

Uploaded by

Syakilah Razali
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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DPA10013 - FINANCIAL ACCOUNTING 1

TUTORIAL
ACCOUNTING EQUATION

1. Fill in the missing amount for the element that is expressed in the accounting equation.

Item Element

Asset (RM) Liability (RM) Owner’s Equity


(RM)
(a) 25,000 15,000 ?
(b) 8,400 ? 6,500
(c) ? 9,550 18,750
(d) 30,000 12,000 ?
(e) 41,000 ? 26,000
(f) ? 55,000 78,000

2. For each transaction below, classify the items involved into the appropriate accounting
elements.

Item Transaction In the book of Taka Tiki


Item involved Accounting element

(a) Amir started a business named Taka Tiki Bank Asset


with RM7,000 in a bank account. Capital Owner’s Equity

(b) Taka Tiki bought fixtures and fittings of


RM3,000 by cheque.
(c) Amir withdrew RM1,000 cash for his
personal use.
(d) Taka Tiki bought office equipment of
RM7,000 on credit from Best Supplies.
(e) Taka Tiki was charged RM30 by the bank
for services rendered.
(f) An invoice of RM1,000 was received from
Mangga Service for motor van repairs.
(g) Taka Tiki received cash of RM600 for rent
income which was kept in the business
office.
(h) A loan of RM20,000 was given by Rozami.
The loan is to be repaid after five years.

3. For each transaction below, identify the accounting elements affected and show the
effect (by a + sigh for an increase and a – sign for a decrease).

Item Transaction Effect on


Asset Liability Owner’s Equity
(a) Halim invested RM20,000 cash to start Cash Capital
a business. + 20,000 +20,000

(b) Purchased a computer on credit for


RM5,300.

(c) Halim brought in his own vehicle


RM8,000 for business use.

(d) Took a loan from RHD Finance to


purchase a machine of RM30,000.

(e) Issued a cheque of RM3,000 as part


repayment of the loan from RHD
Finance.

(f) Sold unused fax machine of RM300 on


credit to Candy Bhd.

(g) Bought a set of sofa for RM 4,000 from


Furniture Mall on credit.

(h) Issued a cheque to Yan Lin to settle a


debt of RM3,500.

(i) Bought motor vehicle RM50,000, of


which a deposit of RM10,000 was paid
by cheque. The remaining amount is to
be settled by 10 monthly instalments of
RM4,000.
4. State the effect of the following transactions:

Example:
Transactions Effect
Bought furniture by cash Asset – furniture increase
Asset – cash decrease

a) Started business with cash and a motor vehicle


b) Paid for advertising expenses by cash
c) Purchased a building with the loan from MBT Finance
d) The owner paid his son’s school fees using a business cheque
e) Paid creditor the amount due using a cheque
f) Debtor paid amount owned in cash
g) Owner spent cash for personal means
h) Bought a van for office use by cheque
i) Paid for stationery in cash
j) Owner brought in personal furniture for office use
k) Paid bank loan by cheque
l) Owner brought in additional cash into the business
m) Paid shop assistant’s salary in cash
n) Paid electricity bill by cash
o) Deposited cash into company’s bank account

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