EXERCISE 1: DOUBLE ENTRY ACCOUNTING Alia Maisarah is the owner and operator of Alia's Bakery, a shop that runs a business making cakes and biscuits in Parit Raja, Batu Pahat. On September 1, 2018, Alia's Bakery has the following assets and liabilities: cash RM2000; accounts receivable RM2200; supplies RM700; account payables RM1500. Business transactions during September 2018 are summarized as follows: a) Received cash from Alia Maisarah as an additional investment, RM6500. b) Paid creditors on account, RM900. c) Paid shop rent for the month, RM1015. d) Received cash from customers for supplying services of cakes and biscuits, RM850. e) Purchased office supplies on account, RM225. f) Paid the following: wages expense, RM850; utilities expense, RM315; and Miscellaneous expense, RM85. g) Alia withdrew RM1500 in cash from the business for personal use.

EXERCISE 1: DOUBLE ENTRY ACCOUNTING Alia Maisarah is the owner and operator of Alia's Bakery, a shop that runs a business making cakes and biscuits in Parit Raja, Batu Pahat. On September 1, 2018, Alia's Bakery has the following assets and liabilities: cash RM2000; accounts receivable RM2200; supplies RM700; account payables RM1500. Business transactions during September 2018 are summarized as follows: a) Received cash from Alia Maisarah as an additional investment, RM6500. b) Paid creditors on account, RM900. c) Paid shop rent for the month, RM1015. d) Received cash from customers for supplying services of cakes and biscuits, RM850. e) Purchased office supplies on account, RM225. f) Paid the following: wages expense, RM850; utilities expense, RM315; and Miscellaneous expense, RM85. g) Alia withdrew RM1500 in cash from the business for personal use.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 3PA: Domingo Company started its business on January 1, 2019. The following transactions occurred during...

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