Complete the accounting equation(a) AssetsCapital1,00,000 = 80,000-Cap – InterviewSolution

1.	Complete the accounting equation(a) AssetsCapital1,00,000 = 80,000-Capital+ Liabilities+ Liabilities+ 40,000+ Creditors+(b) AssetsR2,00,000(c) Assets-Capital?!,60,00080,000
Answer» The basic formula of accountancy is asset = capital + liability.a) liability = asset-capital = 20,000b) capital = asset - liability = 160000c) asset = 160000+80000 = 240000.

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