Complete the columns to show how much the assets, liabilities and capital have been changed by...

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Complete the columns to show how much the assets, liabilities and capital have been changed by the following transactions. (a) Bought a motor van on credit $5,000. (b) Repaid by cash a loan owed to P. Smith $1,000. (c) Bought goods for $1,500 paying by cheque. (d) The owner purs a further $5,000 cash into the business. Effects upon Assets Liabilities Capital (e) A debtor returns to us $800 goods. We agree to make an allowance for them. (f) Bought goods on credit $2,200. (g) The owner takes out $1,000 cash for his personal use. (h) Paid a creditor $1,900 by cheque. Effects upon Assets Liabilities Capital Complete the columns to show how much the assets, liabilities and capital have been changed by the following transactions. (a) Bought a motor van on credit $5,000. (b) Repaid by cash a loan owed to P. Smith $1,000. (c) Bought goods for $1,500 paying by cheque. (d) The owner purs a further $5,000 cash into the business. Effects upon Assets Liabilities Capital (e) A debtor returns to us $800 goods. We agree to make an allowance for them. (f) Bought goods on credit $2,200. (g) The owner takes out $1,000 cash for his personal use. (h) Paid a creditor $1,900 by cheque. Effects upon Assets Liabilities Capital

Answer rating: 100% (QA)

Asset Liability Capital a Bought motor van on credit 5000 5000 5000 0 b Repaid by cash lo... View the full answer