As part of his regular business, Jheel went in for the transactions mentioned below (during the day).
Question:
As part of his regular business, Jheel went in for the transactions mentioned below (during the day). Fill in the blanks by indicating the direction of the change in the empty columns below (i.e., positive, negative, and no change):
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Transactions (a) Took a loan from a bank (b) Received advance from a customer (c) Purchased merchandise on credit from a wholesaler (d) Sold on credit to a well-known customer (e) Sold on cash to a new customer (f) Paid taxes to the municipal authorities (g) Made market enquiries from a new product (h) Gifted some of the merchandise to her boy friend (i) Rejected proposal from a competitor to buy her business Assets = Liabilities + Capital
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Heres the table with the direction of change for each transaction Transaction Assets Liabilities Cap...View the full answer
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Related Book For
Financial Accounting For Management
ISBN: 9789385965661
4th Edition
Authors: Neelakantan Ramachandran, Ram Kumar Kakani
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