Question

What will be the accounting equation for :
Purchased chairs for office use 10,000.
I know that in Assets side 10,000 will be deducted from cash but what will happen in the liabilities side ?​

Answer 1

Answer:

their will be no effect on liabilities side our stock will increase cash will be deducted

Answer 2

Answer:

(–)cash 10,000(asset side) (+)Furniture 10,000(asset side)

nothing to be done in the liabilities side