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Individual Assignment One
Individual Assignment One
Individual Assignment One
General Instruction
1. This Assignment is to be done individually.
2. Form of submission: Hardcopy to be submitted to your instructor.
4. Submission date: January 9/2022
5. Cheating is strictly forbidden.
b) Assume that assets and liabilities increased by Br.240,000, and Br. 120,000 respectively
during a given year. Assume the following additional particulars further
▪ Revenues generated during the year….Br.80,000
▪ Additional investment made by the owner during the year ……….Br. 70,000
▪ Amount withdrawn by the owner during the year….. $10,000
Required: Determine the amount of expense incurred during the year
c) For each of the following, give an example of a transaction that creates the described
effects:
a) Decreases a liability and decreases an asset
b) Increases an asset and decreases another asset
c) Decreases an asset and decreases owners’ equity
d) Increases a liability and decreases owners’ equity
e) Increases an asset and increases a liability
f) Decreases an asset and decreases a liability