State the effect of the following transactions on the assets, liabilities and capital: (a)…
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State the effect of the following transactions on the assets, liabilities and capital:
(a) Proprietor introduces cash into business.
(b) Business purchases fittings for cash.
(c) Business purchases vehicles for cash
(d) Rent is paid.
(e) Stock purchased for cash.
(f) Wages are paid.
(g) Stock sold on credit.
(h) A vehicle is sold for cash.
(j) Additional stock is purchased on credit.
(k) A further sale is made for cash.
(l) Proprietor withdraws cash.
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