Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 25 - No. 40)

Which of the following transactions will affect both the balance sheet and the income statement?

Paying salaries

Purchasing equipment with cash

Selling goods for cash

Owner investing cash

Explanation

Paying salaries will affect the income statement and cash decreases on the balance sheet, selling goods for cash increases the income statement and balance sheet as well.

Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 25 - No. 40)

Explanation

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