Arvind has the following transactions. Use accounting equation to show their effect on his assets, liabilities and capital :(1) Commenced business with cash 3 90,000 and bank balance 40,000.(1) Travelling expenses paid by cheque 3 7,500(ii) Salary due but not paid 35,500(iv) Rent paid for next year by cheque # 6,000(v) Interest received 12,000(vi) Interest due but not received 8,000(vii) Commission received in advance for next year 9,000Hint : Any expense due or any income received in advance are the liabilities and any expensepre-paid or any income accrued (due but not received) are the assets.

Arvind has the following transactions. Use accounting equation to show

1.	Arvind has the following transactions. Use accounting equation to show their effect on his assets, liabilities and capital :(1) Commenced business with cash 3 90,000 and bank balance 40,000.(1) Travelling expenses paid by cheque 3 7,500(ii) Salary due but not paid 35,500(iv) Rent paid for next year by cheque # 6,000(v) Interest received 12,000(vi) Interest due but not received 8,000(vii) Commission received in advance for next year 9,000Hint : Any expense due or any income received in advance are the liabilities and any expensepre-paid or any income accrued (due but not received) are the assets.
Answer» Don't KNOW is ARVIND AMBANI SON

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