Question

Give examples of transactions that would have the following effects on the items in a firm’s
financial statements:
a. Increase cash; decrease some other asset.
b. Decrease cash; increase some other asset.
c. Increase an asset; increase a liability.
d. Decrease retained earnings; decrease an asset.
e. Increase an asset other than cash; increase retained earnings.
f. Decrease an asset; decrease a liability.

Answer 1

Answer:

1...sell of goods

2...purchase of goods

3...purchase goods on credit

4...failure of goods ,,,, affect out stocks

5...Receive Rent from debtor

6...purchase goods on credit

hope it help you bro ....