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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Complete the columns to show the effects (increase or decrease) of the following
transactions on the assets, liabilities and capital of a business. Copy the table into your
answer booklet.
2.2.
Effect Upon
Assets
Liabilities
Capital
a) Pay creditor RM100 in cash
b) Bought machines RM200 by cheque
c) Bought goods on credit RM300
d) The proprietor introduces RM500
cash into the firm
e) A debtor pay us RM60 by cheque
f) Bought funiture by cash RM500
g) Credit sales to Kasim RM200
h) Owner took RM100 cash for his own
use
i) Bought furniture by cash
j) Introduce additional cash as capital
Expert Solution
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