Kothari Ltd. made the following transactions: 1. Payment of a S200 invoice on account 2. Increase in
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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.
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Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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