On 1st July,2020 Ratnesh started business with Cash Rs.2,00,000, out of which Rs.50,000 deposited in to bank. He purchased Furniture of Rs.60,000. Rent paid during the month was Rs.10,000. There was no other transaction that took place during the month. What was the amount of Capital on 31st July, 2020 ?
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Answer:
190000 is capital amt on 31st july 2020
Explanation:
acording to accounting equation rent is loss which was bearer by owner as deduction in cap amt so the cap become 200000 to 190000
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