Module 1: Foundation of Accounting Case A: Effect of Transactions on Accounting Equation The transactions of Kamat Travel Services during a month

are as follows: (a) Bought a computer for cash (b) Invoiced customers for services provided (c) Bought office supplies on credit (d) Owner invested in the business (e) Collected amount due from a customer (f) Received a bank loan (g) Paid amount due to a creditor (h) Provided services for cash (i) Repaid a part of the bank loan (j) Paid salaries for the month (k) Owner withdrew cash for personal purposes Case B: Effect of Transactions on Accounting Equation On March 1, 20XX, Rina Motawala established a law practice as a sole proprietorship and concluded the following transactions in the first month: (a) Motawala deposited Rs. 35,000 from her savings in the firms bank account (b) Bought office furniture on credit, Rs. 25,000 (c) Billed clients for services, Rs. 19,000 (d) Bought office supplies for cash, Rs. 3,500 (e) Paid office rent, Rs. 1,800 (f) Provided services for cash, Rs. 9,000 (g) Paid electricity expenses, Rs. 900 and telephone expense, Rs. 400 (h) Collected payments from clients in (C), Rs. 10,000 (i) Withdrew cash for personal use, Rs. 7,000 REQUIRED Analyse the effect of the transactions on the accounting equation

Case C: Effect of Transactions on Accounting Equation On August 1, 20XX, Joseph set up Exacta Reprographic Company. The following transactions took place during the first month: (a) Joseph invested Rs. 50,000 cash in the company in exchange for 5,000 shares of the company (b) Took a bank loan, Rs. 20,000 (c) Bought for cash two photocopiers each costing Rs. 30,000

(d) Bought office supplies on credit, Rs. 8,000 (e) Provided services for cash, Rs. 35,000 (f) Paid office rent, Rs. 4,000 (g) Paid staff salary, Rs. 1,800 (h) Invoiced customers for services, Rs. 12,000 (i) Repaid a part of the bank loan, Rs. 15,000 (j) Bought a photocopier on credit, Rs. 30,000 (k) Declared and paid dividends, Rs. 4,000