quiz - 3 accounting

received initial investment from the owner

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital

purchased supplies on credit

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital

received cash from the bank as loan for 2 yrs

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital

deposited money to the bank

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital

give cash to the owner as drawing

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital

sold merchandise for cash

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital

sold merchandise on credit

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital

collected cash from customer on account

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital

paid the salary of the store

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital

purchase computer in account

• increase in asset = increase in capital

• increase in asset = increase in liabilities

• decrease in asset =increase in asset

• decrease in asset = decrease in liabilities

• decrease in asset = decrease in capital