Complete the gaps in the columns to show the effects of the following transactions: (16) Effects upon: Assets Equity Liabilities e.g Started a business with N$ 50000 in the bank +50000 +50000 +0 a) We pay a creditor N$7000 in cash b) Bought fixtures N$20000 paying by cheque c) Bought a vehicle on credit N$27500 d) The Proprietor introduces another N$20000 into the firm e) J Katoma lends the firm N$20000 in cash f) A debtor pays us N$ 5000 by cheque g) We sell goods for N$ 20000 cash h) Paid rent N$5000 by cheque

Complete the gaps in the columns to show the effects of the following transactions: (16) Effects upon: Assets Equity Liabilities e.g Started a business with N$ 50000 in the bank +50000 +50000 +0 a) We pay a creditor N$7000 in cash b) Bought fixtures N$20000 paying by cheque c) Bought a vehicle on credit N$27500 d) The Proprietor introduces another N$20000 into the firm e) J Katoma lends the firm N$20000 in cash f) A debtor pays us N$ 5000 by cheque g) We sell goods for N$ 20000 cash h) Paid rent N$5000 by cheque

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Description: Complete the gaps in the columns to show the effects of the followingtransactions: (16)Effects upon:Assets Equity Liabilitiese.g Started a business with N$ 50000 in thebank+50000 +50000 +0a) We pay a creditor N$7000 in cashb) Bought fixtures N$20000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 1EB: Provide journal entries to record each of the following transactions. For each, identify whether the...

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