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CBSE Class 11-commerce Answered

Give an example for each of the following : Increase in asset, decrease in another asset Increase in asset, increase in liability Increase in liability, decrease in owner’s capital
Asked by Topperlearning User | 13 Jun, 2016, 04:59: PM
answered-by-expert Expert Answer

  1. Increase in asset, decrease in another asset:

    Purchase of machinery for cash- Increase in machinery and decrease in cash

  2. Increase in asset, increase in liability:

    Purchase of furniture on credit- Increase in furniture and increase in liability

  3. Increase in liability, decrease in owner’s capital:

    Outstanding expenses provided- Increase in creditors for outstanding expenses and decrease in capital

Answered by | 13 Jun, 2016, 06:59: PM
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