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The following transaction was extracted from the books Kalamazoo Ltd. Indicate effect on the accounting equation of the
Posted: Sat May 07, 2022 8:03 pm
by answerhappygod
- The Following Transaction Was Extracted From The Books Kalamazoo Ltd Indicate Effect On The Accounting Equation Of The 1 (95.55 KiB) Viewed 41 times
The following transaction was extracted from the books Kalamazoo Ltd. Indicate effect on the accounting equation of the business. Indicate Effect Upon (+) or (-) TRANSACTIONS ASSETS LIABILITIES CAPITAL 1. We paid a creditor GHc 700 in cash 2. Bought fixtures GHc 2000 paying by cheque 3. Bought goods on credit GHC 2750 4. The owner introduces additional GHc5,000 cash into the business 5. G Mosquito lend the business GHc 2,000 in cash 6. A trade account receivable pays his account GHc 500 by cheque 7. The business returned goods costing GHc 600 whose bills has not been paid 8. Bought additional business premises paying GHc 50,000 by cheque