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Where a transaction affects two accounts in the same category, enter the positive amount in the first space provided and enter the negative amount in
Where a transaction affects two accounts in the same category, enter the positive amount in the first space provided and enter the negative amount in the second.
Transaction | Assets | Liabilities | Net Worth |
Purchased a new television for $1,200 on credit. | 1200 | 1200 | |
1) Purchased $134 worth of fuel on credit. | 134
| -134
| |
2) Made a $1,140 car loan payment. | -1140
| -1140
| |
3) Purchased a desk for $1,050 cash. | 1050
| ||
-1050
| |||
4) Prepaid three months of insurance with $540 cash. | 540
| ||
-540
| |||
5) Received a cash gift of $880. | 880
| 880
| |
6) Used up one of three months of prepaid insurance. | Answer ? | Answer ? | |
7) Paid interest of $57, in cash, on the car loan. | -57
| -57
| |
8) Received a utility bill for $55 to be paid next month. | 55
| -55
|
please, answer question no. 6! Thank you.
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