Question

B1 Henry buys a $2,500 TV (transaction 4). The purchase is funded by a $1,000 bank loan (transaction 1), the redemption of a $800 term deposit (transaction 2) and the sale of $700 worth of shares (transaction 3), which were bought in the past for $600. On a scrap paper, represent the changes in Henry's balance sheet resulting from the purchase and funding of his TV. Then use your draft to fill the following multiple blanks. The scrap paper will not be uploaded but needs to be kept for future reference. The TV is an asset Type Y if true, Nif incorrect. The term deposit is an asset Type Y if true, N if incorrect. The loan is an asset Type Y if true, N if incorrect. In net, the balance sheet size changes by Type a sign + or - followed by one number with no dollar sign. Type 0 (the number zero) if there is no change. The stock of shares changes by Type a sign + or - followed by one number with no dollar sign. Type 0 (the number zero) if there is no change. The income from the sale of the shares is Type a sign + or - followed by one number with no dollar sign. Type 0 (the number zero) if there is no change. In net, the deposits change by Type a sign + or - followed by one number with no dollar sign. Type 0 (the number zero) if there is no change. The equity of Henry changed by Type a sign + or - followed by one number with no dollar sign. Type 0 (the number zero) if there is no change.

Answer 1

(yes tv is on Yoo because on ko As per the given :- P. No. 1 D'y an asset, and is recorded asset Side of the balance sheet) a): Y (yes team deposit is also an asset, 24 is the amount deposited into the bank for a fixed amount of time, and it usually Yields higher rate of interest) (loan is is no not an asset, et is a leability as you Supposed to pay off the loan a later stage) In net the balance sheet changes by 'o' 3) The Stock of share changed by 600. It won't be asset gode, they were listed as 600 only, and N" ale

P. 2 Upon Selling worth 600 Selling them we will reduce shares from the assets. Income from Shares of sale is 100. as the selling price was too and Cost was 600. 7 In net the deposits change by- 800, because the deposit of 800 is redeemed, So we will deduct 800 from assets 8) There is no change in equity, as all the assets liabillies after this transaction is Shill Zero. please give me Thumeup.