Question 2 5 Points There is no difference between cash Sales and credit Sales. Is this statement true or false? A) True False Question 3 10 Points Ilias starts a business and introduces capital of 10,000. He also obtains a loan of 6,000 to purchase non-current (fixed assets What is the amount of total assets? 4,000 B 6,000 10,000 E16.000 Question 4 10 Points Sarah has taken cash from her business for her personal use. This transaction will be recorded as: Debit Blank 1 Credit: Blank 2 Blank 1 Add your answer Blank 2 Add your answer Question 5 10 Points in Company A 400 was withdrawn from Bank account to be hold as cash. How do you record this transaction Prompts Submitted Answers Debit Choote match Credit Chamad Question 6 10 Points The owner's equity (e. capital of Shun Connery Is E150,000 and is equal to one quarter the amount of total assets. What is the amount of total liabilities? 600,000 B) 450,000 300,000 E150,000 Question 7 12 Points James Ltd purchased inventory with the value of $1.500. The amount paid by business cheque was 600, E400 paid in cash and the remaining balance to be paid in 2 weeks. How do you record this transaction in form of double-entry booking system Prompts Submitted Answers Debit Chat Credit Choo Question 8 7 Points Indicate the effect of each of the following transactions upon the total assets of a business by using one of the appropriate phrases as below: "increase total assets"; decrease total assets; or no change to total assets". Prompts Submitted Answers Owner contributed a computer to the business Choose a match Purchased a motor vehicle with cash. Decrease total assets Purchased a motor vehicle on credit No change to total assets Pald a creditor amount owing Increase total assets Received payment from a recevable Choose a match Purchased land for 100,000 Choose a match math Paying 20,000 deposit and arranging a mortgage for the balance