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Accounting Equation completion

Forums › CIMA Forums › Accounting Equation completion

  • This topic has 0 replies, 1 voice, and was last updated 3 years ago by sanjeewa.nibm.
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  • May 2, 2022 at 2:45 pm #654713
    sanjeewa.nibm
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    When I applied assets+expenses= liabilities + equity + revenue for the below following I had some issues with balance.
    please guide below and complete as a help

    1) Yasasmi (The owner) commenced a business with an investment of $ 10,000
    2) The owner brought computer equipment worth $ 3,000
    3) The owner has brought a property worth $ 15,000
    4) The owner has taken a personal loan of $ 2,000 and invested that money in
    the business
    5) The owner brought furniture worth $ 1,000
    6) Business bought (purchased) machinery for $ 2,500
    7) Business bought a software for $ 500
    8) Business has taken a bank loan of $ 8,000
    9) The owner has withdrawn $ 200 from the business
    10) The business has deposited $ 4,000 in the bank account
    11) The business has repaid the bank loan of $ 2,000
    12) Business bought motor vehicle for $ 12,000 on credit
    13) Business bought goods for $ 6,000
    14) Business bought goods for $ 10,000 on credit
    15) Business bought stationery for $ 200

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