ivan invisor tax return chapter 6 solution

(ii) Liability Decrease will be the debit. Solution 5: (i) Assets decrease will be the credit. Question 5: If a transaction has the effect of decreasing an asset, is the decrease recorded as a debit or credit? If the transaction has the effect of decreasing a liability, is the decrease recorded as a debit or credit?

(d) Credit in Capital Account – Record the fresh capital introduced by owner

(c) Debit in Capital Account – Record drawing (d) Record the fresh capital introduced by owner Question 4: What entry (debit or credit) would you make to:. Total Assets = Cash + Debtors + Machinery + Stock Question 3: The position of a businessman on 30th June 1994 was as follows –Ĭash Rs. Hence, the correct equations are I, IV and VIII. Solution 2: The correct equations from the above equations:. Question 2: Which of the following equations are correct? (ii) From accounting equations we can easily prepare final accounts. (i) Accounting equations despites the accuracy of a financial transaction. Solution 1: Below are the purposes of the accounting equation:. Question 1: Give two basic purposes of the accounting equation. Students can refer below for solutions for all questions given in your DK Goel Accountancy Textbook for Class 11 in Chapter 6 The chapter also includes a lot of good quality questions which are very well designed and can be very helpful to understand the concepts of Accountancy for Class 11 students.ĭK Goel Solutions Class 11 Chapter 6 solutions are free and will help you to prepare for Class 11 Accountancy Accounting Equations DK Goel Class 11 Accountancy Solutions These solutions have been prepared based on the latest Class 11 DK Goel Accountancy book issued for this academic year.ĭK Goel Solutions Class 11 Chapter 6 provides all the accounting equations and a lot of numerical problems. Read below DK Goel Solutions Class 11 Chapter 6 Accounting Equation.

Ivan invisor tax return chapter 6 solution