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solve these equations . The owners of a start-up invest $1,000,000 into the business. After one year of operations, the business has assets of $850,000
solve these equations
. The owners of a start-up invest $1,000,000 into the business. After one year of operations, the business has assets of $850,000 and losses of $300,000. What are the total liabilities at the end of the first year? Following are the accounting transactions relating to Mr. P's business. Use the accounting equation to show their effect on his assets, liabilities and capital. The accounting equation at the start of the month was: Assets $14,000 less liabilities $6,500. During the following month, the business purchased a non-current asset for $6,000, paying by cheque, a profit of $9,000 was made, and payables of $7,500 were paid by cheque. What would be balance on capital be at the end of month? i. Commenced business with a Capital of 50.000 ii. Bought Machinery for cash 10,000 iii. Purchased goods for cash 15,000 iv. Purchased goods from A on credit 5.000 V. Sold goods for cash 10,000 vi. Paid to A 2,000 vii. Sold goods to B on credit 3,000 viii. Paid into Bank 6.000 ix. Paid to A by cheque 1,000 X. Received from B a cheque for 2,000 Show that the accounting equation is satisfied after taking into consideration each of the following transactions in the books of Mr. N . Following are the accounting transactions relating to Mr. M's Business. Use the accounting equation to show their effect on his assets, liabilities and capital i. Started business with capital 1,00,000 ii. Bought furniture 25,000 iii. Bought goods for cash 20,000 iv. Bought goods from Ram on Credit 5,000 v. Sold goods for cash for 15.000 vi. Sold goods to Shyam on credit 8,000 vii. Paid cash to Ram 4,000 viii. Received cash from Shyam 5,000 ix. Paid Cash into Bank 25,000 x. Withdrawn from bank 10,000 i. Started business with capital 75,000 ii. Bought furniture 10,000 iii. Bought goods for cash 20,000 iv. Bought goods from Ram on Credit 10,000 v. Sold goods for cash 15,000 vi. Sold goods to Shyam on credit 5,000 vii. Returned goods to Ram 1,000 viii. Goods Returned from Shyam 500 . Liza Doolittle purchases a market stall from Len Turnip, who is retiring from his fruit and vegetables business. She initially invested $2,500. The cost of the stall is $1,800.She also purchases some flowers and potted plants from a trader in the wholesale market, at a cost of $650. On 3 July Liza has a very successful day. She sells all of her flowers and plants for $900 cash. Since Liza has sold goods costing $650 to earn revenue of $900Step by Step Solution
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