How do you identify the value received in every transactions?.

Sagot :

Answer:

Initial investment by S. Ty

Value received: cash

Value parted: capital

Bought a car on account

Value received: equipment - car

Value parted: accounts payable

Rendered professional service on account.

Value received: accounts receivable

Value parted: service income

Cash withdrawal by S. Ty

Value received: drawings

Value parted: cash

Collection from client's account

Value received: cash

Value parted: accounts receivable

Rendered professional service for cash

Value received: cash

Value parted: service income

Issued a note for borrowed money.

Value received: cash

Value parted: notes payable

Additional investment by S. Ty

Value received: cash

Value parted: capital

Sold an old car for cash

Value received: cash

Value parted: equipment - car

Received a promissory note from a client

Value received: notes receivable

Value parted: service income/sales

Payment of account to a supplier

Value received: accounts payable

Value parted: cash

Received a promissory note in exchange for...

Value received: notes receivable

Value parted: service income/sales

Explanation: