A sole trader is $5,000 overdrawn at the bank and receives $1,000 from a credit customer in respect of its account. Which elements of the accounting equation will change due to this transaction?Question 6Answera.Assets onlyb.Assets, liabilities, and capitalc.Assets and liabilities onlyd.Liabilities only

A sole trader borrows $10,000 from the bank. Which elements of the accounting equation will change due to this transaction?Question 6Answera.Assets onlyb.Capital and liabilitiesc.Assets and capitald.Assets and liabilities

A sole trader sells goods for cash for $500 which had cost of $300. Which elements of the accounting equation will change due to this transaction?Question 12Answera.Assets and capitalb.Assets onlyc.Assets and liabilitiesd.Capital and liabilities

A sole trader increases the business's number of motor vehicles by adding his own car to its fleet. Which elements of the accounting equation will change due to this transaction?Question 1Answera.Capital onlyb.Assets onlyc.Assets and liabilitiesd.Assets and capital

4.  Assume Gucci paid expenses totaling P35,000. How does this transaction affect Gucci's accounting equation?*a. Decreases both assetsf and owner's equityb. Decreases assets and increases liabilitiesc. Increases both assets and owner's equityd. increases assets and decrease liabilities

As which one of the following can the accounting equation be rewritten as?Group of answer choicesA. Assets –liabilities – operating capital + drawings = operating profitsB. Assets - profit –drawings = closing capital – liabilitiesC. Assets + profits – drawings – liabilities = closing capitalD. Assets – liabilities – drawings = operating capital + profits