Question
Complete the columns to show the effects of the following transactions: 1 Bought van on time $8,700. Assets Liabilities Capital 2 Repaid by cash a
- Complete the columns to show the effects of the following transactions:
| 1 | Bought van on time $8,700. | Assets | Liabilities | Capital |
| 2 | Repaid by cash a loan owed to Duff $10,000. |
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| 3 | Bought goods for $1400 paying by cheque. |
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| 4 | The owner puts a further $4000 cash into the business |
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| 5 | A debtor returns to us goods worth $150. We agrees to make an allowance for them |
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| 6 | Bought goods on time $760. |
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| 7 | The owner takes out $200 cash for his personal use. |
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| 8 | We pay a creditors $1,150 by cheque. |
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Financial Management for Public Health and Not for Profit Organizations
Authors: Steven A. Finkler, Thad Calabrese
4th edition
978-0132805667
