Learn
Practice
Download App
News
FAQs
Help
German (DE)
English (EN)
Spanish (ES)
French (FR)
Yoruba (NG)
Igbo (NG)
Hausa (NG)
Dutch (NL)
Portuguese (PT)
Swahili (TZ)
If Mr. Ajasin paid his creditors N5000 out of N20 000 owed, what would be the effect of this transaction on the accounting equation?
Question 1
Report
If Mr. Ajasin paid his creditors N5000 out of N20 000 owed, what would be the effect of this transaction on the accounting equation?
A decraese in the total asssets by N5000
An incraese in the total liabilities and owners' equity by by N15 000
An increase in the total assets by N15 000
A decrease in owners' equuity by N5000
Answer Details
Read lesson note on The Accounting Equation And Double Entry Principle (WAEC)
The Accounting Equation And Double Entry Principle
View Answer