Taka Company had the following transactions during February 2021. Show the effects of each transactions as...

 

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Taka Company had the following transactions during February 2021. Show the effects of each transactions as it is shown in the first example in red (Each is 5 points, total 35 points). Liabilities 1. 2. 3. 4. 5. 6. 7. 8. Assets Purchased office supplies by Increase and paying cash decrease by the same amount Purchased inventory on account. Paid the utilities bill. The owner withdrew money from business for personal use. Bought a building. Paid half of the price in cash and the balance as note payable. Received cash from one of the clients who owed to the company. Paid salary to the staff. Earned service revenue on account. OE Taka Company had the following transactions during February 2021. Show the effects of each transactions as it is shown in the first example in red (Each is 5 points, total 35 points). Liabilities 1. 2. 3. 4. 5. 6. 7. 8. Assets Purchased office supplies by Increase and paying cash decrease by the same amount Purchased inventory on account. Paid the utilities bill. The owner withdrew money from business for personal use. Bought a building. Paid half of the price in cash and the balance as note payable. Received cash from one of the clients who owed to the company. Paid salary to the staff. Earned service revenue on account. OE

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Step 12 The accounting equation states that the assets should be equal to the liabilities plus owners equity hence total assets equal to liabilities p... View the full answer