Order accounting equation assignment

Order accounting equation assignment
Which of the following transactions would cause £50,000 increase in both total assets and total liabilities of
a business:
(a) Acquisition of a computer for office use for £50,000 on delayed payment terms
(b) Payment of £50,000 in part settlement of a loan obtained by the business
(c) Payment of staff salary of £50,000
(d) Collection in full of a debt of £50,000 due to the business
4.18 The owner of a business transferred her private car into the business for use by her staff.
The effect of this transaction would be:
(a) Decrease owner’s capital and increase assets
(b) Increase owner’s capital and increase assets
(c) Decrease assets and decrease liabilities
(d) Increase assets and increase liabilities
4.19 Will the total assets increase, decrease or remain unchanged by
each of the following transactions?
(a) Additional cash introduced as capital by the owner
(b) Salary paid to staff
(c) Loan received from a friend
(d) Payment of cash to acquire a vehicle for business use
(e) Cash removed by the owner for personal use
(f) Part of the loan repaid to the friend
(g) Interest paid to the lender
4.20 Which of the following is known as the accounting equation?
(a) Liabilities = assets owner’s capital
(b) Assets = liabilities − owner’s capital
(c) Assets − liabilities = owner’s capital
(d) Owner’s capital = assets liabilities
4.21 How would you define the ‘net assets’ of a business?
(a) Total assets − owner’s capital
(b) Total assets liabilities
(c) Total assets − liabilities
(d) Owner’s capital liabilities
4.22 If, as at the year-end, the total assets of a business were £189,000 and business liabilities were £126,000,
what would be the owner’s capital as at that date?
(a) £63,000
(b) £126,000
(c) £189,000
(d) £315,000
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