Question

Amit had the following transactions. Use accounting equation to show their effect on hisassets, liabilities and capital.(a) Brought * 90,000 in cash to start business.(b) Purchased securities for cash 45,000.(C) Purchased an office building for 90,000 giving * 30,000 in cash and the balancethrough a loan.(d) Sold securities costing 6,000 for 9,000.(e) Purchased an old car for 16,800 cash.Received cash for rent 21,600.() Paid cash 3,000 for loan and 1,800 for interest.(h) Paid cash for office building expenses * 1,800.(1) Received cash for dividend on securities 1,200.​​

Answer 1

Answer:

Amit had the following transactions. Use accounting equation to show their effect on hisassets, liabilities and capital.(a) Brought * 90,000 in cash to start business.(b) Purchased securities for cash 45,000.(C) Purchased an office building for 90,000 giving * 30,000 in cash and the balancethrough a loan.(d) Sold securities costing 6,000 for 9,000.(e) Purchased an old car for 16,800 cash.Received cash for rent 21,600.() Paid cash 3,000 for loan and 1,800 for interest.(h) Paid cash for office building expenses * 1,800.(1) Received cash for dividend on securities 1,200.

Explanation:

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Answer 2

Answer:

Amit had the following transactions. Use accounting equation to show their effect on hisassets, liabilities and capital.(a) Brought * 90,000 in cash to start business.(b) Purchased securities for cash 45,000.(C) Purchased an office building for 90,000 giving * 30,000 in cash and the balancethrough a loan.(d) Sold securities costing 6,000 for 9,000.(e) Purchased an old car for 16,800 cash.Received cash for rent 21,600.() Paid cash 3,000 for loan and 1,800 for interest.(h) Paid cash for office building expenses * 1,800.(1) Received cash for dividend on securities 1,200.