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Question 2: Double A Printing Solutions owned by Ayda. On 1 March 2018, Ayda brought in Cash of RM15,000, 2 units of personal computer into the business which the current value of the computer, RM2,000 each, and one unit of car valued RM50,000 for her personal use. On the same date, Double A received supplies from Triple Gain Supplies amounted to RM2,500, on credit basis Required: a) Determine the value of owners equity as at 1 March 2018. b) Assume that Double A received revenue RM3,750 for the first (2m) month of operation, and the expenses incurred were Supplies Expense RM1,200, Rental RM1,000, Advertising RM 350 and Utilities RM 700. Calculate the net profit for the month of March 2018. (3m) c) On 30 March 2018, Ayda put additional capital amounted RM1,500 cash. She declared this transaction as additional in asset and revenue. Do you agree? Elaborate your answer. (3m)
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