Q: Which of the following accounts increases the debit and decreases the credit? Give reasons with the examples. i. Liabilities, owner’s equity and revenues ii. Revenues, liabilities, and assets iii.

Q: Which of the following accounts increases the debit and decreases the credit? Give reasons with the examples. i. Liabilities, owner’s equity and revenues ii. Revenues, liabilities, and assets iii. Expenses, liabilities, and owner’s equity iv. Assets and expenses Give supposed examples for the transactions took place in a Zafar Textile Industry. Record the relevant transactions in a sales book and sales returns book. i. Goods purchased for cash (1 transaction) ii. Materials purchased on credit (1 transaction) iii. Material purchased with cash discount (1 transaction) iv. Goods sold for cash (1 transaction) v. Goods sold on credit with trade discount (1 transaction) vi. Goods sold on credit (3 transactions) vii. Sold goods returned (2 transactions)

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.


Click Here to Make an Order Click Here to Hire a Writer