Question: Presented below is the Basic Accounting Equation. Find the missing amounts: No Assets Liabilities + Owner's Equity 1 125,000 45,000 2 68,000 92.000 384,000 65,000
Presented below is the Basic Accounting Equation. Find the missing amounts: No Assets Liabilities + Owner's Equity 1 125,000 45,000 2 68,000 92.000 384,000 65,000 Complete the following table (Use + for Increase, - for Decrease & NE for no effect): Transaction Assets Liabilities Owners Equity Paid Rent Expense Withdrew cash for personal use Bought equipment on account Classify the following accounts as an Assets, Liabilities, or Owners Equity : No Account Classification No Account Classification I Cash 5 Delivery Equipment 2 Capital 6 A/c Receivable 3 Fees Income 7 Supplies Expense 4 A/c Payable 8 Delivery Supplies The following are transactions for Al-Raja Services during November 2009. Show the effect of each transactions on the Accounting Equation : 1- Bought supplies by cash BD. 100. 2- Performed services on account BD 200. 3- Received from debtors the amount due. No Assets Liabilities Owners Equity Cash Supplies A/c Rec. A/c Payable Capital 1 2
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