State the effect of the following transactions on assets, liabilities and capital using the accounting equation: (i)
Question:
State the effect of the following transactions on assets, liabilities and capital using the accounting equation:
(i) Started business with cash ` 60,000
(ii) Rent Received ` 2000
(iii) Accrued interest ` 500
(iv) Commission received in advance ` 1000
(v) Amount withdrawn ` 5000
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Related Book For 
Financial Accounting For Hotels
ISBN: 9781259004940
1st Edition
Authors: Prasanna Kumar JP, Linda Nalini Danie, Mruthyunjaya V. Pagad
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