Use the Following signs for each transaction under the relevant item 1. + The item is increased due to the transaction. 2. - The item is decreased due to the transaction. 3. +/- One item is increased and another is decreased due to the transaction. Table 1 S. No Transaction Assets Liabilities | Equity Investment made by the owner Equipment purchased on account Office equipment purchased with cash A bank loan was received in cash by the firm Equipment Sold More Equipment were purchased with Cash The loan lent by the bank was repaid by the firm Cash Withdrawals by the owner 1 3 4 7 8. Cash received from an account customer 10 Purchased Land, paid half in cash and half on credit
Use the Following signs for each transaction under the relevant item 1. + The item is increased due to the transaction. 2. - The item is decreased due to the transaction. 3. +/- One item is increased and another is decreased due to the transaction. Table 1 S. No Transaction Assets Liabilities | Equity Investment made by the owner Equipment purchased on account Office equipment purchased with cash A bank loan was received in cash by the firm Equipment Sold More Equipment were purchased with Cash The loan lent by the bank was repaid by the firm Cash Withdrawals by the owner 1 3 4 7 8. Cash received from an account customer 10 Purchased Land, paid half in cash and half on credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Use the Following signs for each transaction under the relevant item
1. + The item is increased due to the transaction.
2. - The item is decreased due to the transaction.
3. +/- 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
Equipment purchased on account
Office equipment purchased with cash
A bank loan was received in cash by the firm
Equipment Sold
More Equipment were purchased with Cash
The loan lent by the bank was repaid by the firm
Cash Withdrawals by the owner
Cash received from an account customer
2
4
5
7
8.
9
10
Purchased Land, paid half in cash and half on credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff37d69d6-14d7-46d8-8cc8-1cd0c2859424%2Fd92dbc61-cc4d-49c5-9dae-a7b84bad882b%2Fhlr9bt_processed.png&w=3840&q=75)
Transcribed Image Text:Use the Following signs for each transaction under the relevant item
1. + The item is increased due to the transaction.
2. - The item is decreased due to the transaction.
3. +/- 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
Equipment purchased on account
Office equipment purchased with cash
A bank loan was received in cash by the firm
Equipment Sold
More Equipment were purchased with Cash
The loan lent by the bank was repaid by the firm
Cash Withdrawals by the owner
Cash received from an account customer
2
4
5
7
8.
9
10
Purchased Land, paid half in cash and half on credit
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