A sole trader is $5,000 overdrawn at the bank and receives $1,000 from a credit customer in respect of its account. Which elements of the accounting equation will change due to this transaction?Question 5Answera.Liabilities onlyb.Assets, liabilities, and capitalc.Assets and liabilities onlyd.Assets only

A sole trader borrows $10,000 from the bank. Which elements of the accounting equation will change due to this transaction?Question 6Answera.Assets onlyb.Capital and liabilitiesc.Assets and capitald.Assets and liabilities

A sole trader sells goods for cash for $500 which had cost of $300. Which elements of the accounting equation will change due to this transaction?Question 12Answera.Assets and capitalb.Assets onlyc.Assets and liabilitiesd.Capital and liabilities

A sole trader increases the business's number of motor vehicles by adding his own car to its fleet. Which elements of the accounting equation will change due to this transaction?Question 1Answera.Capital onlyb.Assets onlyc.Assets and liabilitiesd.Assets and capital

4.  Assume Gucci paid expenses totaling P35,000. How does this transaction affect Gucci's accounting equation?*a. Decreases both assetsf and owner's equityb. Decreases assets and increases liabilitiesc. Increases both assets and owner's equityd. increases assets and decrease liabilities

The effect of a transaction to accounting equation is given below.Assets = Equity + Liabilities- = -5000 + 5000Above transaction could be1. Settling a creditor for Rs. 5000 by owners personal money.2. Purchasing goods for Rs. 5000 on credit3. Obtaining a bank loan for Rs. 50004. Receiving a discount for Rs. 5000 when settling a creditor5. Receiving the monthly electricity bill for 5000 (…..)