Which account should be debited, if wages are paid for installation of a machine?

In the above case, if the proprietor had invested ₹ 5,000 as additional capital and withdrawn ₹ 2,000, what will be your answer?

If the Capital of a business is ₹ 1,20,000 and Outside liabilities are ₹ 20,000, calculate total assets of the business.

Give an example of a transaction due to which owner's capital and an asset will decrease.

1. Purchases Account.
2. Cash.
3. Capital.
4. Salary.
5. Interest received.
6. Sales Return.
7. Machinery.
8. Drawings.

What does debit balance of a Real Account indicates?

Which of the following equations are correct?

1. Assets = Capital + Liabilities
2. Assets = Capital - Liabilities
3. Assets = Liabilities - Capital
4. Capital = Assets - Liabilities
5. Capital = Assets + Liabilities
6. Liabilities = Capital + Assets
7. Liabilities = Capital - Assets
8. Liabilities = Assets - Capital

How an Accounting Voucher is prepared?

What does a Credit Balance in a Capital Account signify?

Why is the Journal called a book of Original entry?