Question: Question 2 [8 marks] Complete the columns to show the effects of the following transactions: Effect upon: Liabilities Capital Example Bought motorcycle by cheque. Assets

Question 2 [8 marks] Complete the columns to show the effects

Question 2 [8 marks] Complete the columns to show the effects of the following transactions: Effect upon: Liabilities Capital Example Bought motorcycle by cheque. Assets Increase and decrease a) b) d) e) f) g) th) Pay creditors by cheque. Sold goods to ABC Enterprise by cash. Bought vehicles from Perosatu Trading on time. Paid monthly term loan. Bought goods by cash. Withdraw goods for personal use. Purchase goods on credit. Debtors paid half of the amount due

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Question 4 (10 marks) Complete the columns to show the effects of the following transactions: Effect upon Liabilities Assets Capital (a) We settle account payable $70 in cash. (b) Bought fixtures...

1. Wise is planning to start up a new business in East York. Before he started trading, he bought a van for $4,550, a market stall for $3,000 and inventory for $1,570. He did not pay in full for his...

1 [10 marks] Complete the columns to show the effects of the following transactions: Effect upon: Assets Liabilities Capital Example Bought van by cash. Van Increase Cash Decrease a) Received part...

step by step Question 1 [10 marks] Complete the columns to show the effects of the following transactions: Example Bought van by cash. a) b) c) d) h) i) j) Received part payment from Jack Furniture...

Complete the columns to show the effects of the following transactions: Effect upon Assets Liabilities Capital (a) We pay a creditor 70 in cash. (b) Bought fixtures 200 paying by cheque. (c) Bought...

st 1 - BBFA1113 -2( x + Copy of Keshini Thanabalu BBF/ x The Difference between Fumitu X Of Course 3g13a5neBVmfrX4zmyluSY9ixPkE51/view WhatsApp Web G Google TAR UC - Student I.. Classes Management :...

Complete the columns to show the effects of the following transactions: (a) We pay a creditor 70 in cash. (b) Bought fixtures 200 paying by cheque. (c) Bought goods on credit 275. (d) The proprietor...

Complete the columns to show the effects of the following transactions; (a) Bought a van on credit 8,700. (b) Repaid by cash a loan owed to F Duff 10,000. (c) Bought goods for 1,400 paying by cheque....

Complete the columns to show the effects of the following transactions: 1 Bought van on time $8,700. Assets Liabilities Capital 2 Repaid by cash a loan owed to Duff $10,000. 3 Bought goods for $1400...

Complete the columns to show the effects of the following transactions: Assets Effect upon Liabilities. Capital (a) We settle account payable $70 in cash. (b) Bought fixtures $200 paying by cheque....

Sue gets a total of 20 utils per week from her consumption of pizza and a total of 40 utils per week from her consumption of yogurt. The price of pizza is $1 per slice, the price of yogurt is $1 per...

Al Rosen invests $25,000 in a mint condition 1952 Mickey Mantle Topps baseball card. He expects the card to increase in value 12 percent per year for the next 10 years. How much will his card be...

Lisa wants to present her tentative findings on a very complex project to a research audience. The most appropriate form for her presentation would be a ( n ) : article. book. all of these choices...

Discuss the policy statement concept and identify three focus areas / procedures where a clearpolicy statement / operating procedure

What criteria are helpful for assessing the quality of organisational sources of evidence? a Objectivity, subjectivity, accuracy, significance. b Authenticity, credibility, representativeness,...

What issues should you take into account if you decide to make use of evidence from published diaries, memoirs or autobiographies? a They were produced for commercial intent. b It is likely that they...

What issues need to be considered when evaluating sources of evidence about an organisation? a The hand-in date of your research report. b Whether the organisation is well known or not. c Whether you...