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Accounting Equations — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountAccounting Equations1 Mark
Question
What entry (debit or credit) would you make to:
  1. Increase in revenue.
  2. Decrease in expense.
  3. Record drawings.
  4. Record the fresh capital introduced by the owner.
✓

Answer

  1. Increase in Revenue: Credit
  2. Decrease in Expense: Credit
  3. Drawings: Debit in Capital Account
  4. Fresh Capital: Credit in Capital Account

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