k investa On March 1 2021, Mr. Abhishek set up a loan recovery business and...
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k investa On March 1 2021, Mr. Abhishek set up a loan recovery business and conclude the following activities. Analyze the impact or no effect of the following activities on the statement of sources and application of funds. Answer the questions in the format given below. a. Abhishek invested cash in the business 20,000 b. Brought equipment for cash 12,000 C. Paid rent deposit for office 5,000 d. Provided services for cash 19,000 e. Provided services on credit 14,000 f. Paid salaries 8,000 g. Collected payments for past invoices 8,500 h. Received advance payment for services 2,000 a. Paid rent 500 [Marks 0.5*9= 4.5] Answer Format: Cash Asset Trade Equipment Receivables Rent Deposit Liabilities Capital Trade Abhishek's Payables Capital
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