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Exercise 6 (4 points) Use the balance equation to show how the financial accounts are affected by the following transactions: a) Purchase of goods for
Exercise 6 (4 points) Use the balance equation to show how the financial accounts are affected by the following transactions: a) Purchase of goods for NOK 187,000 (incl. VAT) on credit b) Payment of the purchase of goods c) Resale of the goods for NOK 200,000 (excl. VAT) on credit d) The customer pays (redeems the trade receivable from the sale of goods) Assume in this statement that the company is liable for VAT
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