Tag: usefulness of an accounting equation
Questions Related to usefulness of an accounting equation
Which of the following is accounting equation?
The accounting equation is based on __________.
The outside liabilities of a business are Rs. $20,000$. The proprietor's capital is Rs. $50,000$. Total assets of the firm are worth ___________.
Dual aspect concept results in the accounting equation _____________.
On 31st Dec. 2006 assets of the business are Rs.3,00,000 and its capital is Rs.1,00,000. Its liabilities on that date will be __________.
Net worth of the business means _________________.
Suppose P start a business with $Rs. 50,000$ cash and then buys furniture from F.F. Co. on credit for $Rs. 2,000$. Now, the accounting equation
$Assets = Capital + Liabilities$ will be __________________.
Which of the following equations is correct?
Both assets and owner's equity (i.e. capital) would be increased by ___________.
X started business with a capital of $Rs. 2,00,000$ and purchased goods worth $Rs. 20,000$ on credit. These transactions may be expressed in the form of 'Accounting Equation' such as___________.