VERITAS CO.

Summary financial data of the Veritas Co. for October are presented below in transaction form. Analyse the transactions and show the equality.

1. Began operations by depositing $100.000 in a business bank account.
2. Purchased a land for the business $150.000, paying $50.000 in cash with the balance on account.
3. Purchased supplies for cash, $400.
4. Paid general expenses, $5000.
5. Paid salaries for the month, $16.000.
6. Paid $10.000 on account.

The accounts used are; cash, supplies, land, accounts payable and capital.