Case 2 (2 Marks) Calculate the missing amount in the following relating to the accounting equation:

1. Assets amounted to 12,000 and liabilities amounted to 6,000. If assets increase by 10,000 what is the amount of liabilities and capital?

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2. Assets amounted to 80,000 and capital amounted to 62,000. If liabilities are now 30,000 what should the amount in assets be?

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3. If capital balance is 40,000, revenue 20,000, expenses 10,000 and liabilities 28,000 what is the amount of assets?

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4. If George invested 100,000 in the business what is effect in the accounting equation?

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5. If George has a balance in cash of 120,000 and he buys supplies on account for 2,000 what is the effect in the accounting equation?

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