Accountancy, asked by atharvkothana, 9 months ago

additional capital introduced as cash 10,000and delivery van personal asset of 50,000​

Answers

Answered by Hemalathajothimani
17

Answer:

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Explanation:

Explanation: while introducing capital, the firm receives cash and an increase in asset is debited, therefore cash is debited. Capital being liability of the firm (as per business entity principle) is increased and an increase in liability is always credited, therefore capital is credited.

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