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1. State the effects and double entry for each of the following transactions. {a} The owner brought in cash and motor vehicles into the business
1. State the effects and double entry for each of the following transactions. {a} The owner brought in cash and motor vehicles into the business {b} Paid cash for purchase of office equipment. {c} Deposit cash into bank account. id} Purchase goods on credit from G-Mart Trading. [ell Cash sales . if} Sold goods on credit to Nasir. lg} Paid motor expenses by cash. {h} Nasir returned defective goods to the business. [ii Nasir settled his account by cheque . ill Paid shop assistant's salary by cheque. [k] The owner withdrew cash for his personal use. 2. Show the double entryr for the following transactions and state the effect of each of the transactions on the accounting equation. {a} The owner used a business cheque to pay the electricity bill incurred at his private residence. lb) Purchased goods from Abu Nawas. Issued cheque to him. {c} The business received interest by cash. [d)Used office cash to repair van owned by business [ell Banked in office cash. if} Purchased machinery from IBC Corporation on credit. lg} Sold goods to Fujitsu. Payment to be made next months. {b} The owner used his own money to purchased office stationery. [i] A debtor Ahmad returned goods to the business
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