Give an example for each of the following types of transactions: 1. Increase in one asset, decrease in another asset 2 Inerease in asset, increase in liability. 3.Inerease in asset, increase in owner's capital 4 Decrease in asset, decrease in liability 5. Decrease in asset, decrease in owner's capital. 6 Decrease in liabilities, increase in owner's capital. 7 Increase in one liability, decrease in another liability 8. Increase in liabilities, decrease in owner's capital

Give an example for each of the following types of transactions: 1. In

1.	Give an example for each of the following types of transactions: 1. Increase in one asset, decrease in another asset 2 Inerease in asset, increase in liability. 3.Inerease in asset, increase in owner's capital 4 Decrease in asset, decrease in liability 5. Decrease in asset, decrease in owner's capital. 6 Decrease in liabilities, increase in owner's capital. 7 Increase in one liability, decrease in another liability 8. Increase in liabilities, decrease in owner's capital
Answer» <html><body><p></p>Solution :1. Purohase of furniture for cash-<a href="https://interviewquestions.tuteehub.com/tag/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a> in furniture and <a href="https://interviewquestions.tuteehub.com/tag/decrease-946104" style="font-weight:bold;" target="_blank" title="Click to know more about DECREASE">DECREASE</a> in cash. <br/> 2. Parchase of furniture on credit-Increase in furniture and increase in liability. <br/> 3. Capital <a href="https://interviewquestions.tuteehub.com/tag/introduced-2121226" style="font-weight:bold;" target="_blank" title="Click to know more about INTRODUCED">INTRODUCED</a> by proprietor-Increase in cash and increase in capital. <br/> 4. Payment to creditors-Decrease in cash and decrease in creditors. <br/> <a href="https://interviewquestions.tuteehub.com/tag/5-319454" style="font-weight:bold;" target="_blank" title="Click to know more about 5">5</a>. Cash withdrawn by proprietor-Decrease in cash and decrease in capital. <br/> 6. Conversion of partner's loan into capital-Increase in capital and decrease in loan <br/> 7 Bills Payable accepted-Increase in bills payable and decrease in creditors. <br/> 8. <a href="https://interviewquestions.tuteehub.com/tag/outstanding-1143197" style="font-weight:bold;" target="_blank" title="Click to know more about OUTSTANDING">OUTSTANDING</a> expenses provided-Increase in creditors for outstanding expenses and decrease in capital.</body></html>

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