Question

write accounting equation for this:returned goods to shyam of rs 2000

Answer 1

When we talk about the basic accounting equation, it refers to the foundation of the double-entry book-keeping system.

For each type of transaction that takes place the total debit always equal to the total credit. Equity refers to the money that comes in the business and capital refers to the money that a person has contributed to the business.

If goods were to be returned to Mr Shyam of rs 2000 then it leads to a decrease in the assets and the liability of the company.

Answer 2

Explanation:

because we returned the purchases

our stock will reduce and if its credit transaction the liability will reduce and if its cash transaction the cash will increase