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A number of business transaction carried out by River Oaks are as follows.

You are required to indicate the effects of each of these transactions on the companys assets, liabilities and owners equity. Organize your answer in a tabular form, using the column headings shown below and the code letters I for Increase, D for Decrease and NE for No Effect.
Transaction # Assets = Liabilities + Owners Equity

a) b) c) d)

Borrowed money from a bank. Sold land for cash at a price equal to its cost Returned some of the office equipment previously purchased on credit but not yet paid for. Collected an accounts receivable and paid a liability from the amount collected.

Consider the following transactions of Alpha Service Organization. May 1 8 16 19 24 25 27 28 30 Started business with cash $80,000 Rendered services on account $5,125 Paid $4,200 of employee salaries Customers previously billed paid $2,500. Purchased office equipment of $650 on account. Rendered services for cash, $750 Paid $240 for the equipment purchased on May 24. Purchased land, paying $6000 down and signed a promissory note for the remaining $14,000. Paid advertising bill for the month $250

Required: a) Journalise the above transactions. (Narrations are required) b) Post the transactions to the ledger accounts. c) Prepare the trial balance (Marks will be deducted if correct formats are not followed)