CBSE Class 11-commerce Answered
From the following transactions, briefly explain the dual aspects of every transaction:
Stock ofRs. 170,000 purchased from the supplier
Assets ofRs. 225,000 purchased
Asked by Topperlearning User | 09 Jun, 2016, 12:41: PM
Expert Answer
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Stock of Rs. 170,000 purchased from the supplier
Here, the business is receiving stock, and therefore stock account has been debited. On the other hand, cash is paid to the supplier, and hence cash account is credited.
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Asset of Rs. 2,25,000 purchased
Here, the business is receiving an asset, and therefore assets account is debited. On the other hand, cash is paid, and hence cash account is credited.
Answered by | 09 Jun, 2016, 02:41: PM
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ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 09 Jun, 2016, 12:29: PM
ANSWERED BY EXPERTCBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 09 Jun, 2016, 12:29: PM
ANSWERED BY EXPERT
