Rahim started a mobile car wash service The Visit and Shine. As capital he introduced 2,000.
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Rahim started a mobile car wash service – The Visit and Shine. As capital he introduced £2,000. The effect of bringing that amount on the accounting equation would be:
(a) Liabilities and assets are both decreased
(b) Assets are increased and the owner’s equity decreased
(c) The owner’s equity and assets are both increased
(d) The owner’s equity is increased and liabilities are decreased
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Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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