21)Identify the effects of the following transactions on the asset, liability and owner's equity(Capital): eg: increase asset, increase liability, decrease capital....)itemTransactionEffecta.Purchase a machine on creditbSold vehicle by chequeC.Paid supplier by cashd.Withdraw cash by owner for personal usee.Received loan of cash from Alexf.Owner paid a creditor from his private fundsCustomer paid us by chequeg.h.Took $520 from bank and put in cash tilli.Purchase lorry by cashj.Started business with $40,000 in bank accountBought van by chequeSold some office equipment by cashPurchase inventory by creditSold motor vehicle by creditOwner took inventory for own useBought building $200,000 and paid cash $10,000 asdeposit, balance by creditPaid loan by chequePurchase computer terminals from DE on creditReceived cash from customerOwner put in additional $10,000 cash into businessOwner brought in a computer for office usek.1.m.n.0.P.9.r.S.t.u.

Name: 21)Identify the effects of the following transactions on the asset, l
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Description: 21)Identify the effects of the following transactions on the asset, liability and owner's equity(Capital): eg: increase asset, increase liability, decrease capital....)itemTransactionEffecta.Purchase a machine on creditbSold vehicle by chequeC.Paid

ASSETS. ASSETS IS ANYTHING THAT CAN BE OWNED OR CONTROL AND GENERATES OR WILL GENERATES AN…

Answered: increase asset, increase liability,…

Business

Accounting

increase asset, increase liability, decrease capital....)

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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