Question

(1) Rent outstanding
(2) Depreciation on building
how to show this on the balance sheet of accounting equation?​

Answer 1

Explanation:

The amount of prepaid insurance will be credited from assets and debited in liability thus, the equation will be 5000 +1000 = 2000+4000-1000. The same way commission of Rs. 2800 will be added to assets and liability because there's an increase in cash and also an increase in capital (Income).

Answer 2

Explanation:

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