please help

accountijg worksheet

Record the below business transactions for ABC Traders Ltd: 1. Paul and Jim opened a trading company called ABC Traders Ltd. They invested $5,000 each in the business, which in turn issued its common share to them. This would increase Cash, an asset, and increase Common Share, an equity account. 2. The business paid $5000 cash to purchase a used car. This transaction increases one asset Vehicles, and decreases another - Cash. 3. The business purchased supplies for $2,000 on account. This transaction increases Supplies, an asset, and increases a liability, Accounts Payable