Omer provides the following data of his company Cargowings Pvt. ltd. for the month of December 2020.Following transaction took place during the month: `Omer further invested in business with cash $5,000, bank $10,000, and Motor Vehicle $8,000Received a cheque from Mathew in respect of goods sold at invoice price $500 deducting discount of 5%.Omer brought his house furniture into the business which he purchased for $3,000Commission received as referral fee $1,300Sold goods to Danial worth $500 and the balance was written in his account.

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Answered: Omer provides the following data of his…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 16EA: Discuss how each of the following transactions for Watson, International, will affect assets,...

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Omer provides the following data of his company Cargowings Pvt. ltd. for the month of December 2020.

Following transaction took place during the month: `

Omer further invested in business with cash $5,000, bank $10,000, and Motor Vehicle $8,000
Received a cheque from Mathew in respect of goods sold at invoice price $500 deducting discount of 5%.
Omer brought his house furniture into the business which he purchased for $3,000
Commission received as referral fee $1,300
Sold goods to Danial worth $500 and the balance was written in his account.

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