Question

Arvind has the following transactions. Use accounting equation to show their
effect on his assets, liabilities and capital :
(1) Commenced business with cash 3 90,000 and bank balance 40,000.
(1) Travelling expenses paid by cheque 3 7,500
(ii) Salary due but not paid 35,500
(iv) Rent paid for next year by cheque # 6,000
(v) Interest received 12,000
(vi) Interest due but not received 8,000
(vii) Commission received in advance for next year 9,000
Hint : Any expense due or any income received in advance are the liabilities and any expense
pre-paid or any income accrued (due but not received) are the assets.​

Answer 1

Answer:

Don't know is arvind ambani son