1 Which of the following is incorrect? Assets Liabilities Capital £ £ £ (A) 7,850 1,250 6,600 (B) 8,200 2,800 5,400 (C) 9,550 1,150 8,200 (D) 6,540 1,120 5,420 2 Which of the following statements is...

1

Which of the following is incorrect?

Assets Liabilities Capital

£ £ £

(A) 7,850 1,250 6,600

(B) 8,200 2,800 5,400

(C) 9,550 1,150 8,200

(D) 6,540 1,120 5,420

2 Which of the following statements is correct?

Effect upon

Assets Liabilities

(A) We paid a creditor by cheque −Bank −Creditors

(B) A debtor paid us £90 in cash Cash Debtors

(C) J Hall lends us £500 by cheque Bank −Loan from Hall

(D) Bought goods on credit Stock Capital