Question
1. Complete the columns to show the effects of the following transactions: Effects upon Assets Liabilities Capital a Bought a van on credit RM8,700 b
1. Complete the columns to show the effects of the following transactions:
Effects upon
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| Assets | Liabilities | Capital |
| a | Bought a van on credit RM8,700 |
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| b | Repaid by cash a loan owed to F Duff RM10,000 |
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| c | Bought goods for RM1,100 paying by cheque. |
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| d | The owner puts a further RM4,000 cash into the business |
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| e | Bought goods on credit RM760 |
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| f | The owner takes out RM200 cash for his personal use |
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| g | We pay a creditor RM1,150 by cheque |
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
