If the total asset of a business are Rs 4,50,000 and outside liabilities are Rs 2,50,000. Calculate the capital
Rs 3,00,000
Rs 1,50,000
Rs 2,00,000
Rs 2,50,000
The accounts of Co-operative society is classified under ____________ personal A\C.
Natural
Artificial
Representative
None of these
Credit capital as per American system indicates.
Additional capital introduced
Increase in capital
Both a and b
Additional capital introduced results in
Increase in fixed assets, increase in liability
Decrease in cash, decrease in creditors
Increase in cash , increase in capital
Increase in fixed assets, decrease in cash
According to American system: credited liability means.
Any decrease in liability
Any increase in liability
Any decrease in profit
A journal entry passed to begin a new set of book is called.
An opening entry
A closing entry
A simple journal entry
If a furniture is purchased for cash Rs 9000. Furniture Account is
Debited
Credited
Salary paid is an example of ____________ account.
Personal
Real
Nominal
