Complete the following into meaningful transactions . Solve them in basic accounting equation. Find the effect on Asset / Liabilities and Owner Equity and give the net result of the transactions. ---------- starts a business called ------------ enterprise on 1st January, 2021 and invests ---------------as his /her capital. ---------------enterprise purchases machinery worth RO. ------------ paid 35% in cash and remaining on credit. The enterprise purchased goods worth RO.-----. Paid RO.----- cash and balance on credit. The business made a sale of RO. ----- (cost being RO -----) on credit basis. The business took loan of RO. --------------from Bank Muscat . The owner withdrew RO.----------------from the business for his/ her personal use.

Complete the following into meaningful transactions . Solve them in basic accounting equation. Find the effect on Asset / Liabilities and Owner Equity and give the net result of the transactions. ---------- starts a business called ------------ enterprise on 1st January, 2021 and invests ---------------as his /her capital. ---------------enterprise purchases machinery worth RO. ------------ paid 35% in cash and remaining on credit. The enterprise purchased goods worth RO.-----. Paid RO.----- cash and balance on credit. The business made a sale of RO. ----- (cost being RO -----) on credit basis. The business took loan of RO. --------------from Bank Muscat . The owner withdrew RO.----------------from the business for his/ her personal use.

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Description: Complete the following into meaningful transactions . Solve them in basic accounting equation. Find the effect on Asset / Liabilities and Owner Equity and give the net result of the transactions.---------- starts a business called -----------

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter4: Journalizing And Posting Transactions

Section: Chapter Questions

Problem 3MC: To purchase an asset such as office equipment on account, you would credit which account? (a) Cash...

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