3L Following on from the CappuMania example, suppose that on 1 July 2021 a fifth transaction had...

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3L Following on from the CappuMania example, suppose that on 1 July 2021 a fifth transaction had occurred:

CappuMania repaid $800 on its loan to the bank.

(i) What would the journal entry be for this transaction?

(ii) What would the following revised figures have been on the 1 July 2021 balance sheet: cash, current assets, total assets, total liabilities and shareholders’ equity?

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Fundamentals Of Accounting And Financial Management

ISBN: 9780170454797

8th Edition

Authors: Professor Ken Trotman, Kerry Humphreys

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Question Posted: Jul 26, 2024 10:01 AM

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3L Following on from the CappuMania example, suppose that on 1 July 2021 a fifth transaction had...

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Fundamentals Of Accounting And Financial Management

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