Question: Kothari Ltd made the following transactions 1 Payment of a S200

Kothari Ltd. made the following transactions:
1. Payment of a S200 invoice on account
2. Increase in the fair value of a Fair Value-Net Income Investment by S250
3. Sale on account for $100
4. Purchase of equipment paid for with $500 cash and a $ 1,000 note payable
5. Increase in the fair value of a Fair Value-OCI Investment by $ 150
6. Repayment of a $2,000 bank loan
Indicate the effect of each of the transactions on (a) the basic accounting equation and (b) the expanded basic accounting equation.

View Solution:

Sale on SolutionInn
  • CreatedSeptember 18, 2015
  • Files Included
Post your question