Recommendation Rent Outstanding Accounting Equation
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I Started business with cash 50000 and goods 30000.
Rent outstanding accounting equation. Rs Outstanding Expenses Rs. 1000 and Rent Outstanding Rs. Ii Purchased goods for cash Rs.
A Started business with Cash 200000. 18000 18000. Salary outstanding 2000.
Rent received 5000. December 31st 2019 Overdue expense recorded as outstanding Rent Account. A L P Where A assets.
30000 and on credit from Karan Rs. D Paid for Rent. 18000 18000 ii Purchased goods for Cash Rs 5000 and on credit Rs 2000 5000 7000 2000.
The solution for this question is as follows. V Rent outstanding Rs. The outstanding expense is a personal account and is treated as a liability for the business.
The Accounting equation is Assets Capital Assets of a firm A good financial statement works on the grounds of a well-balanced accounting equation ie each debit must have equal credit defining the dual aspect of transactions. Q5 Prepare Accounting Equation from the following. Iv Withdrew cash for personal use 10000.
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