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With reference to the accounting equation: Asset = Capital + Liability, show the NET effect on the asset, liability and capital for each of the following transactions.

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With reference to the accounting equation: Asset = Capital + Liability, show the NET effect on the asset, liability and capital for each of the following transactions.

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With reference to the accounting equation: Asset = Capital + Liability, show the NET effect on the asset, liability and capital for each of the following transactions.

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phoebe wong
phoebe wong
United States

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With reference to the accounting equation: Asset = Capital + Liability, show the NET effect on the asset, liability and capital for each of the following transactions.
 

With reference to the accounting equation: Asset = Capital + Liability, show the NET effect on the asset, liability and capital for each of the following transactions.Online version

With reference to the accounting equation: Asset = Capital + Liability, show the NET effect on the asset, liability and capital for each of the following transactions.

by phoebe wong
1

The owner started a business in cash.

Choose one or more answers

2

Put cash in bank.

Choose one or more answers

3

Bought a chair in cash.

Choose one or more answers

4

Bought a computer on credit.

Choose one or more answers

5

Paid a supplier by cheque.

Choose one or more answers

6

Sold goods on credit at cost.

Choose one or more answers

7

A customer paid in full in cash.

Choose one or more answers

8

The owner introduced a motor van into the business.

Choose one or more answers

9

The owner withdrew office equipment for his private use.

Choose one or more answers

Feedback

Asset and Capital increase

No effect

No effect

Asset and Liability increases

Asset and Liability decreases

No effect

No effect

Asset and Capital increases

Asset and Capital decreases

 
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