Accounting - 1. 2. 100,000 (40,000) 40,000 100,000 Balance...

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Accounting Accounting Problem 1: 1. Started business with $100,000 into a bank account. 2. Bought land paying in cash $40,000. 3. Bought Motor cars paying in cash $20,000. 4. Bought machinery by talking a bank loan $50,000. 5. Repaid part of bank loan $20,000. # Assets = Liabilities + Owners Equity Cash in bank Land Motor cars Machinery = Loan Capital
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Unformatted text preview: 1. 2. 100,000 (40,000) 40,000 100,000 Balance 3. 60,000 (20,000) + 40,000 20,000 = 100,000 Balance 4. 40,000 +40,000 +20,000 50,000 = 50,000 100,000 Balance 5. 40,000 (20,000) +40,000 +20,000 +50,000 =50,000 (20,000) +100,000 Balance 20,000 +20,000 +20,000 +50,000 =30,000 +100,000 Final Bal. 130,000 = 130,000...
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Accounting - 1. 2. 100,000 (40,000) 40,000 100,000 Balance...

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