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Question
Complete the accounting equation.
Assets = Capital + Liabilities
₹ 1,00,000 = ₹ 80,000 + ?
Sum
Solution
Liabilities = Assets – Capital
Liabilities = ₹ 1,00,000 – ₹ 80,000
Liabilities = ₹ 20,000
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Approaches of Recording Transactions
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Chapter 3: Books of Prime Entry - Exercises [Page 59]
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