Explain the effects of the transactions, accounting, Basic Statistics

Explain the effects of the transactions, accounting, Basic Statistics

Assignment Help:

Explain the effects of the transactions on Accounting Equation under a Financial Accounting System.

Ans. Under the Double Entry System each of the financial transaction bring the dual effect on accounting system in form of Debit and Credit for example a company’s capital is Rs. 1 Lakh and it purchases of goods for Rs. 50000 and the same has not be sold yet so it will be considered as Stock and stock comes under Assets so this transaction will reduce the capital by Rs. 50000 and capital shall remain only Rs. 50000 and the Assts at other side will be 50000 so the capital reduces and Assets increases mean the dual aspect effects comes therein.

Related Discussions:- Explain the effects of the transactions, accounting

Explain accounting Accumulated depreciation , A contra-asset assessment con...

A contra-asset assessment consideration used to history the buildup of regular credit created to indicate the conclusion of the approximated useful life of investment resources.

Historigram, what is historigram.

what is historigram.

quality, HOW I CAN WORK UPON EWMA CHART

HOW I CAN WORK UPON EWMA CHARTS?

Governmental Accounting, The fund statements for gorvernmental funds should...

The fund statements for gorvernmental funds should include a? A. Balance sheet for governmental funds. B. Statement of revenues,expenses, and changes in fund net assets. C.Statemen

Determine the tax implications, Your firm purchased a line of computer equi...

Your firm purchased a line of computer equipment for $1.5M four years ago. It is assigned a CCA rate of 20% and the firm has a tax rate of 35%. At the end of this year (year 4 for

Resolance tube , #questionw..what is ment by resolance tube

#questionw..what is ment by resolance tube

Sampling, What is the sampling and it importance in daily routain life. Exp...

What is the sampling and it importance in daily routain life. Explain stratify sampling

12 questions, normal distribution and the sampling distributions of sample ...

normal distribution and the sampling distributions of sample proportions and sample means, but without confidence interval

Variability, the purpose of measures of variability

the purpose of measures of variability

Bond calculation, Calculate the original price of the bond. Bonds were issu...

Calculate the original price of the bond. Bonds were issued at $200,000 of x% ten-year term bond at an effective annual interest rate (market rate) of x%. The bonds pay interest se

Write Your Message!

Name

Email id

Message

Verfication Code

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd