Assets Liabilities and Capital

A business buy a computer on credit it will

• increase computer asset

  decrease trade payable asset

• increase computer asset

  increase trade payable asset

• increase computer asset

  decrease trade payable liability

• increase computer asset

  increase trade payable liability

A supplier of goods to a business who has yet to be paid for goods delieved is called

• trade receivable/ debtor asset

• trade receivable/ debtor liability

• trade payable/ creditor asset

• trade payable/ creditor liability

a customer who has received goods from a business and not yet paid is called

• trader receivable/ debtor asset

• trader receivable/ debtor laibility

• trader payable/ creditor asset

• trader payable/ creditor liability

a credit sale or purchase is one where goods change hands

• after payment

• before payment

• when payment is made

if payment is made by cheque it will always affect the

• cash asset

• bank asset

• trade receivable asset

• trade payable liability

If a payment of money is made to a business by a credit customer it will

• increase cash asset

  decrease trade receivable asset

• increase cash asset

  increase trade receivable asset

• increase cash asset

  decrease trade payable liability

• increase cash asset

  increase trade payable liability

If payment is made to a credit supplier by a business with a cheque

• increase trade receivable asset

  decrease cash

• increase trade receivable asset

  decrease bank asset

• decrease trade payable liability

  decrease bank asset

• decrease trade payable liability

  decrease cash

I f a business buys goods on credit from a supplier we

• increase goods asset

  decrease trade receivable asset

• increase goods asset

  increase trade receivable asset

• increase goods asset

  decrease trade payable laibility

• increase goods asset

  increase trade payable liability

If a business takes out a loan from Abdullah with the loan paid into the bank we

• increase bank asset

  increase loan liability

• increase bank asset

  decrease loan liability

• increase bank asset

  decrease loan asset

• increase bank asset

  increase loan asset