USA: +1 (725) 712-1730 
Sign in
ANSWER (b) ONLY
Mak Cun Bhd. is owned by Madam Mekcun. The following transactions occurred in the first month of her honey business operation. a) Show the effects (Increase/Decrease) on asset, liability and equity to the accounting equation. b) Journalize all the above transactions. Explanations are not required.
Expert Answer
Journal Entries
In the Books of Mak Cud Bhd for the month of May
(Honey Business Operations)
| Date | Particulars | Debit (RM) | Credit (RM) |
| May 1 | Cash Account Dr
To Madam Mekcun Capital Account (Being Madam Mekcun invested RM 15,000 cash to start the business) |
15,000 | 15,000 |
| May 3 | Salary Account Dr
To Salary Payable Account (Being Salary payable to secretary for the month of May at RM 50 per day) |
1,000 | 1,000 |
| May 6 | Asus Computer Account Dr
To Cash Account (Being Cash Paid for Asus Computer) |
3,500 | 3,500 |
| May 10 | Office Supplies Account Dr
To Bills Payable /Account Payable Account (Being purchase of Office Supplies on account/credt) |
700 | 700 |
| May 14 | Cash Account Dr
To Sales Account (Being Sale of 2dozens of honey bottles and each bottle costing RM125) |
3,000 | 3,000 |
| May 15 | Bills Payable / Account Payable Account Dr
To Office Supplies Account (Being Purchase return of half the value of Office Supplies which was purchased on May 10) |
350 | 350 |
| May 19 | Utility Bill Account Dr
To Cash Account (Being Payment of Utility expenses) |
200 | 200 |
| May 22 | Drawings/Madam Mekcun Capital Account Dr
To Bank Account (Being Cash Withdrawn for Personal Use) |
50 | 50 |
| May 27 | Bank Account Dr
To Pharmaceutical Company Account (Being Full and Final Settlement of Pharmaceutical Company Account) |
2,000 | 2,000 |
| May 31 | Salary Payable Account Dr
To Cash/Bank Account (Being Salary paid to secretary for the month of May) |
1,000 | 1,000 |
