PRACTICE QUESTIONS Question 1 From the following statements, which show the cumulative effects of individual transactions, you are required to state as fully as possible what transaction has taken place in each case. inventory equipment Cash accounts Receivable Ghe Gh accounts payable Ghe owners' equity Ghc Ghc Ghe Balance 6.000 3.000 8,000 7.000 4,000 20.000 October Ist 2nd 3rd 4th 5th 6th 7th 8th 9th 6,000 3,000 6,600 2,400 5.800 2,400 6.900 2.400 5.600 2.400 5.600 2.400 6,100 3.700 4000 3,700 3,200 3,700 3.200 3.700 8,700 8.700 8.700 8,700 8.700 8,200 8.200 8.200 9,000 9.000 7,000 7.000 7,000 7.000 9.600 9.600 7.800 7.800 7.800 9.500 4,700 4.700 3.900 3.900 5,200 4,700 4,700 4,700 4,700 4,700 20,000 20.000 20.000 21,100 21.100 21,100 21,100 19,000 19.000 20,700 10th Question 2