Question

Illustration 8. Give an example for each of the following types of transactions: 1. Increase in one asset, decrease in another asset.
2. Increase in asset, increase in liability. 3. Increase in asset, increase in owner's capital.
4. Decrease in asset, decrease in liability. 5. Decrease in asset, decrease in owner's capital.
6. Decrease in liabilities, increase in owner's capital.
7. Increase in one liability, decrease in another liability.
8. Increase in liabilities, decrease in owner's capital.​

Answer 1

Explanation:

1 .at the time of sales of asset

2. purchasing of asset in credit

3 . purchasing of asset

4. liability paid to creditors

5. asset sold on credit /sold asset with dep....

6. payment to creditor

8. . purchase purchase goods by creditor

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