Post Session Activities PDF
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Uploaded by BelievableTantalum
University of Gloucestershire
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Summary
This document contains accounting problems and question about transactions. The questions require students to show the effects of various accounting transactions on assets, liabilities, and capital. This is likely a past paper.
Full Transcript
### Post session activities {#post-session-activities.ListParagraph} Answer the following problems 1\) Complete the columns to show the effects of the following transactions Effect Upon ---------------...
### Post session activities {#post-session-activities.ListParagraph} Answer the following problems 1\) Complete the columns to show the effects of the following transactions Effect Upon -------------------------------------------------------------------------- ------------- ------------- --------- Assets Liabilities Capital a\) we pay a creditor £70 in cash b\) Bought fixtures £200 paying by cheque c\) Bought goods on credit £275 d\) The proprietor introduced another £600 into the business e\) J walker lends the Business £200 in cash f\) A debtor pays us £50 by cheque g\) We return goods costing £60 to a supplier whose bill we had not paid h\) Bought additional shop premises paying £5000 by cheque 2\) Using the accounting equation, determine the capital balance of Morado sole trader. You are provided with the following list of balances. £ Trade receivables 65,250 Trade payables 38,650 Inventory 35,280 Premises 160,000 Motor vehicles 32,250 Fixtures and fittings 16,900 Plant and equipment 8,650 Loan 6,590 Bank 9,800
