Mr. Nasir's business position on Ist January, 1990, is shown by an accounting equation given below. Each line is designated by a letter which indicates effect on the equation of a particular transaction. Describe each of the transactions: 6. + (Owner's Equity Cash + Furniture + Goods + Debtors L.iabilities + 2000 + 8000 + 2000 + 14000 2000 + 2500 + 2500 %3D (a) 2000 + 2000 + 10500 + 2000 2500 + 14000 (b) + 3000 - 2700 300 5000 + 2000 + 7800 + 2000 2500 + 14300 - 2000 50 (c) - 1950 3050 + 2000 + 7800 + 2000 560 + 14350 400 (d) • 400 + 13950 + 2000 • 1500 2650 + 2000 + 7800 500 50 (c) + 1450 4100 + 2000 + 7800 + 500 500 + 13900 - 200 () - 200 4100 + 1800 + 7800 + 500 500 + 13700 200 (g) + 1500 1700 5600 + 1800 + 6100 + 500 500 + 1350
Mr. Nasir's business position on Ist January, 1990, is shown by an accounting equation given below. Each line is designated by a letter which indicates effect on the equation of a particular transaction. Describe each of the transactions: 6. + (Owner's Equity Cash + Furniture + Goods + Debtors L.iabilities + 2000 + 8000 + 2000 + 14000 2000 + 2500 + 2500 %3D (a) 2000 + 2000 + 10500 + 2000 2500 + 14000 (b) + 3000 - 2700 300 5000 + 2000 + 7800 + 2000 2500 + 14300 - 2000 50 (c) - 1950 3050 + 2000 + 7800 + 2000 560 + 14350 400 (d) • 400 + 13950 + 2000 • 1500 2650 + 2000 + 7800 500 50 (c) + 1450 4100 + 2000 + 7800 + 500 500 + 13900 - 200 () - 200 4100 + 1800 + 7800 + 500 500 + 13700 200 (g) + 1500 1700 5600 + 1800 + 6100 + 500 500 + 1350
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Mr. Nasir's business position on Ist January, 1990, is shown by an accounting
equation given below. Each line is designated by a letter which indicates effect on
the equation of a particular transaction. Describe each of the transactions:
6.
+ (Owner's
Equity
Cash +
Furniture
+ Goods
+ Debtors
L.iabilities
+ 2000
+ 8000
+ 2000
+ 14000
2000
+ 2500
+ 2500
%3D
(a)
2000
+ 2000
+ 10500
+ 2000
2500
+ 14000
(b)
+ 3000
- 2700
300
5000
+ 2000
+ 7800
+ 2000
2500
+ 14300
- 2000
50
(c)
- 1950
3050
+ 2000
+ 7800
+ 2000
560
+ 14350
400
(d)
• 400
+ 13950
+ 2000
• 1500
2650
+ 2000
+ 7800
500
50
(c)
+ 1450
4100
+ 2000
+ 7800
+ 500
500
+ 13900
- 200
()
- 200
4100
+ 1800
+ 7800
+ 500
500
+ 13700
200
(g)
+ 1500
1700
5600
+ 1800
+ 6100
+ 500
500
+ 1350
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