Kindly indicate the impact of each transaction on balance sheet items i.e., Assets, Liabilities and Owner’s Equity in Table 1 Given Below………………………………. Use the Following signs for each transaction under the relevant item + The item is increased due to the transaction. – The item is decreased due to the transaction. + /- One item is increased and another is decreased due to the transaction.
Kindly indicate the impact of each transaction on
Use the Following signs for each transaction under the relevant item
- + The item is increased due to the transaction.
- – The item is decreased due to the transaction.
- + /- One item is increased and another is decreased due to the transaction.
Table 1
|
S. No |
Transaction |
Assets |
Liabilities |
Equity |
|
1 |
Investment made by the owner |
|
|
|
|
2 |
Equipment purchased on account |
|
|
|
|
3 |
Office equipment purchased with cash |
|
|
|
|
4 |
1. A bank loan was received in cash by the firm |
|
|
|
|
5 |
Equipment Sold |
|
|
|
|
6 |
More Equipment were purchased with Cash |
|
|
|
|
7 |
The loan lent by the bank was repaid by the firm |
|
|
|
|
8 |
Cash Withdrawals by the owner |
|
|
|
|
9 |
Cash received from an account customer |
|
|
|
|
10 |
Purchased Land, paid half in cash and half on credit |
|
|
|
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