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प्रश्न
What is the accounting equation?
उत्तर
The relationship of assets with that of liabilities to outsiders and to owners in the equation form is known as the accounting equation.
The accounting equation is a mathematical expression which shows that the total of assets is equal to the total of liabilities and capital.
This is based on the dual aspect concept of accounting.
This means that the total claims of outsiders and the proprietor against a business enterprise will always be equal to the total assets of the business enterprise.
Capital + Liabilities = Assets
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संबंधित प्रश्न
Accounting equation signifies ___________.
Real account deals with ____________.
Which one of the following is representative personal account?
Write any one transaction which increases one asset and decreases another asset
How are personal accounts classified?
Write a brief note on accounting equation approach of recording transactions.
What is an Account?
Classify the accounts with suitable examples.
Complete the accounting equation.
Assets = Capital + Liabilities
₹ 1,00,000 = ₹ 80,000 + ?
For the following transactions, show the effect on the accounting equation.
- Raj started business with cash - ₹ 40,000
- Opened bank account with a deposit of - ₹ 30,000
- Bought goods from Hari on credit for - ₹ 12,000
- Raj withdrew cash for personal use - ₹ 1,000
- Bought furniture by using debit card for - ₹ 10,000
- Sold goods to Murugan and cash received - ₹ 6,000
- Money withdrawn from bank for office use - ₹ 1,000
