Student CA
asked
withdrew for personal use or private use is it the same? How will withdrew for private use affect asset capital liabilities what will increase and decrease?
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Tutor CA
answered
rent paid in advance Is a current asset so one asset will increase and other asset cash will decrease
rent outstanding is a current liability so liability will increase but asset remains unchanged
rent outstanding is a current liability so liability will increase but asset remains unchanged
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Student CA
answered
rent paid in advance
rent paid and rent outstanding
what will be the effect in accounting equation
