.(B) Show the eect of increase = (+), decrease = (-) and no change=(0) on the assets of the following transactions:
a. Purchased o“ce furniture, payment to be made next month.
b. Collected cash for repair services
c. Goods sold on credit.
d. Withdrawl of cash by the owner for personal use.
e. Hired an employee as sales manager of the north wing.
f. Returned goods worth ‘ 50,000.
g. One of our debtor agreed to pay his dues to Mr. C who is a creditor of the company with the same amount being
due to him.
h. Entered into an agreement with Mehta & Co. to purchase all raw materials from their company from next year.
Also give reasons for your answers.
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