CSEC Principles of Accounts · January 2018 · Paper 2 · Question 1(b)

In the table provided, state the effect of each of the following transactions on the balance sheet equation (Assets, Liabilities, Capital): (i) The owner deposited an additional 7 000 into the business bank account (Example given: Assets Increase, Capital Increase). (ii) The owner paid accounts payable of 500 from his personal savings. (iii) The owner took goods valued at 400 for his personal use. (iv) The owner bought stationery on credit from Paper Plus Limited costing 1 200.

This question uses a figure or table from the paper — you'll see it when you practise.