Question

Accounting equation:paid cash Rs.500 For Loan and Rs.300 for interest

Answer 1

Answer:

Assets=liabilities+capital

Explanation:

Paid Cash = loan +interest

1. 500 = 500 +300

Income fro

m interest

2. 300

800 = 800

Answer 2

Answer:

decrease from asset side -800 and decrease from liability side -800

Explanation:

asset side = loan + interest

-500 -300

liability = -800