Balance sheet, Accounting Basics

Assignment Help:
1.A business man strated business with 100million on the bank account obtained as a retirement package,
2.He used part of the money and bought a building worth 60 million,
3.He let out part of the building and received acsh 4 million,
4.He then bought a computer for business operations and paid 2million cash and promised to pay 500,000 later.
5.Hepaid the out standing balance using cash.
Required,
Construct an accounting equation for each of the transactions above

Related Discussions:- Balance sheet

Jane has a $35, Jane has a $35,000 bank loan that she wishes to pay off in ...

Jane has a $35,000 bank loan that she wishes to pay off in five equal annual payments with 12% interest. If the first payment is due one year from today, what will be the amount

Explain about accounting transaction, Q. Explain about Accounting transacti...

Q. Explain about Accounting transaction? An accounting transaction is a business event or activity that causes a measurable change in the accounting equation Assets = Liabiliti

Difference between income statement and balance sheet, Difference between I...

Difference between Income Statement and Balance Sheet Difference between the amounts of the columns in Income Statement and Balance Sheet should be the same amount. Words "Net

What do you mean by breakeven point, Q. What do you mean by Breakeven point...

Q. What do you mean by Breakeven point? Breakeven point -- the amount of revenue from sales that exactly equals the amount ofexpense. Breakeven point is generally expressed as

Ledger, ledger is said to be the principal book entry and the transactions ...

ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. elaborate on the statement and explain why journal is neces

Explain horizontal analysis and using the financial results, Q. Explain hor...

Q. Explain horizontal analyses and using the financial results? The computation of dollar and or percentage changes from one year to the next in an item on financial statements

Summary of significant accounting policies, Q. Summary of significant accou...

Q. Summary of significant accounting policies? As part of their annual reports companies comprise summaries of significant accounting policies. These policies help users in int

Matching principle, Which accounting policies demonstrate the matching prin...

Which accounting policies demonstrate the matching principle?  1 charging depreciation on non-current assets 2 revaluing non-current assets on a irregular basis 3 using the re

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd