7. a.
Record the following transactions in accounting equation and show the
effect of these transactions on Statement of Financial Position.
Dolay commenced business with capital of Nu.500,000
b. Deposited into bank Nu.100,000
Bought printer for Nu.50,000
d. Purchased goods from Kinzang for Nu.25,000 on credit
Sold goods for cash Nu.15,000
f. Sold to Penjore goods on credit for Nu.5,000
g
Purchased goods for cash Nu.40,000
h Withdrew from bank Nu.10,000
i. Paid salary to office assistant Nu.5,000
j. Paid to Kinzang by cash Nu.15,000​

Which of the following is not a consideration when determining your asset allocation

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.

Match the different financial tasks to their corresponding financial life cycle phases wealth protection, wealth accumulation and wealth distribution