Hashem started a business thatoffers legal services on 1 December2019. The following are transactions occurredduring the month of December2019:
- Hashem brought in RM50,000 cash and office equipmentsworth RM12,000 into the business.
- Bought a car for his own use worth RM112,000 by payingcash (company’s money) of RM12,000 and signing a note payable forthe balance.
- Provided legal services to a client worth RM7,000 andreceived cash of RM3,000 from the client.
- Purchased office supplies worth RM2,000cash.
- Paid RM700 cash for advertising expenses for the monthsof December2019.
- Sent a bill totaling RM5,000 to a client for the legalservice provided and yet to receive payment.
- Received RM3,000 cash as an agreement to start work asa legal advisor for a company starting February 2020.
- Paid RM3,600 cash for employees’ salary.
- Paid RM2,400 cash forDecember office rental.
- As at 31 December2019, the office supplies used isRM400.
Based on the aboveinformation, you are requiredto:
Show the effects of all the above transactions in theaccounting equation
