Case 2 (2 Marks) Calculate the missing amount in the following relating to the accounting equation Assets amounted to 12,000 and liabilities amounted to 6,000 If assets increase by 10,000 what is the amount of liabilities and capital Answer Assets amounted to 80,000 and capital amounted to 62,000 If liabilities are now 30,000 what should the amount in assets be Answer If capital balance is 40,000, revenue 20,000, expenses 10,000 and liabilities 28,000 what is the amount of assets Answer If George invested 100,000 in the business what is effect in the accounting equation Answer If George has a balance in cash of 120,000 and he buys supplies on account for 2,000 what is the effect in the accounting equation Answer

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Question: Case 2 (2 Marks) Calculate the missing amount in the following relating to the accounting equation: Assets amounted to 12,000 and liabilities amounted to 6,000.

Case 2 (2 Marks) Calculate the missing amount in the following relating to the accounting equation:

Assets amounted to 12,000 and liabilities amounted to 6,000. If assets increase by 10,000 what is the amount of liabilities and capital?

Answer

_______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________

_______________________________________________________________________________

Assets amounted to 80,000 and capital amounted to 62,000. If liabilities are now 30,000 what should the amount in assets be?

Answer

_______________________________________________________________________________

If capital balance is 40,000, revenue 20,000, expenses 10,000 and liabilities 28,000 what is the amount of assets?

Answer

_______________________________________________________________________________

If George invested 100,000 in the business what is effect in the accounting equation?

Answer

_______________________________________________________________________________

If George has a balance in cash of 120,000 and he buys supplies on account for 2,000 what is the effect in the accounting equation?

Answer

_______________________________________________________________________________

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