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For each of the following transactions indicate the two (or more) effects on assets, liabilities and equity . State the categories of Assets, Liabilities and
For each of the following transactions indicate the two (or more) effects on assets, liabilities and equity . State the categories of Assets, Liabilities and Equity involved. This one has been done for you as an example. Purchased a car for cash $10000. +A/-A (Cash-10,000, Tangible Fixed assets + 10,000) 1. X Company invested cash $10,000 in the business. 2. Materials were purchased for $3.000 on account. 3. The company reinvest previous year's profit in the business S2000. 4. On October 11", X Company received a loan from bank $4,000. 5. A license was purchased with deferred payment. 6. The Company signed an agreement to buy goodwill for $1000 for one year. The amount paid on time. 7. On October 30, X Co. returned half on the bank loan which received on October 11th with the interest %0.06 on cash 8. X Company offered an online training course for Z company for $4,000, Xco. received cash of $1,500 from the Z company, and it calls the balance of $2,500 on the account 9. X Co. paid the monthly salary to the employees on time. 10. X Co, sold equipment with deferred payment $ 2500
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