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 |