Answer to Question #183562 in Economics for Faiza

Question

posting records for the following business transactions (not affecting profit or loss) at com- pany X (without VAT). Indicate in each case what type of balance sheet change is involved.

1. Business transaction

Purchase of goods on credit for € 6.000,-.

2. Business transaction:

Payment of delivery liabilities in the amount of € 10,000 (bank transfer).

3. Business transaction:

A short-term delivery debt is converted into a long-term loan liability, value € 10.000,-.

4. Business transaction:

Delivery receivables worth € 1,500 are paid in cash.

5. Business transaction:

A van is sold for € 3,000, payment by bank transfer.

6. Business transaction:

Sale of a plot of land for € 5,000 (cash payment).

7. Business transaction:

Loan debts are settled by bank transfer, amount € 1.000,-.

8. Business transaction: (new)

X withdraws € 1,000 from the bank account and deposits it in the cash box.

9. Business transaction:

Purchase of a machine worth € 30,000 on target

Answer 1

Dear Faiza, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order