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Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. issue $80,000 in stock 2. borrow $65,000 from a bank 3. receive payment of $12,000 owed by a customer 4. pay $6,000 owed to a supplier 5. buy $17,000 worth of manufacturing supplies on credit 6. purchase equipment for $47,000 in cash 7. pay $8,000 owed to a supplier what is the net change in total assets?

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rahulsharma789888

The net total change in total assets comes out to 1,27,0000 when the change in assets and liabilities is computed.

What do you mean when you say "assets" and "liabilities"?

A company's assets are everything it possesses. They may be located on the balance sheet's left side. Liabilities are all debts that a company owes, both now and in the future. They may be found on the balance sheet's right side.

Current and fixed assets are the two categories of assets.

  • Current assets are those that can be turned into cash immediately. For example, Cash accounts receivable, and inventory is among them.

Current and long-term obligations are the two categories of liabilities.

  • Credit lines, loans, wages, and accounts payable are examples of current obligations that must be paid back within a year.

Thus,

According to the aforementioned circumstances, There will be a total shift of 1,27,0000 in assets.

Learn more about assets and liabilities:

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