Give necessary transactions for the following effect of increase and decrease in Assets, Capital and Liabilities.
1)
Increase in Asset | |
Decrease in Asset |
2)
Increase in Capital | |
Increase in Assets |
3)
Decrease in Liability | |
Decrease in Asset |
4)
Decrease in Capital | |
Decrease in Asset |
Ans:
1)
Withdrew cash from Bank Rs 1,000 for Office Use | Increase in Asset |
Decrease in Asset |
2)
Introduced Rs 2,000 Cash in Business | Increase in Capital |
Increase in Assets |
3)
Paid bank Loan of Rs 2,000 | Decrease in Liability |
Decrease in Asset |
4)
Paid Wife’s Mobile bill of Rs 600 | Decrease in Capital |
Decrease in Asset |