Accounting Equation Q2

Q.
a) You are required to complete the columns in the following table:-

No. -----------Assets(RM) --------Liabilities (RM) --------Capital (RM)

1. -----------------8,000 -------------------3,000 --------------------
2. -----------------7,500 -------------------           -------------------5,000
3. ----------------15,000 -------------------9,000 --------------------
4. ----------------            -------------------1,500 --------------------5,800
5. ---------------115,000 ------------------60,500 -------------------

(10 marks, 2011 2a)

b) distinguish liabilities from assets of the following.

I)   Loan to Shirley
II)  Fixture and fittings
III) Loan from Jonesat
IV) Owing to bank
V)  Stock of goods
VI) Owe a supplier for goods
VII) Warehouse we own
VIII) bank overdraft
IX) Creditors for goods
X). Computer in office

(10 marks, 2011 2b)