How would each of these transactions affect the accounting equation?1) Purchasing £800 worth of inventory on credit. 2) Paying the telephone bill of £25.3) Selling £450 worth of inventory for £650.4) Paying £800 to the supplier.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How would each of these transactions affect the accounting equation?
1) Purchasing £800 worth of inventory on credit.

2) Paying the telephone bill of £25.
3) Selling £450 worth of inventory for £650.
4) Paying £800 to the supplier. 

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