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Byju's Answer

Standard XI

Accountancy

Straight Line Method(SLM)

Actual purcha...

Question

Actual purchased a car for $R s .5, 00, 000$ , by making a down payment of $R s .1, 00, 000$ and singing a $R s .4, 00, 000$ bill payable due in $60$ days. As a result of this transaction ____________.

Total assets increased by Rs.

5, 00, 000

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Total liabilities increased by Rs.

4, 00, 000

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Total assets increased by Rs.

4, 00, 000

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Total assets increased by

R s .4, 00, 000

with corresponding increase in liabilities by

R s .4, 00, 000

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Solution

The correct option is C Total assets increased by $R s .4, 00, 000$ with corresponding increase in liabilities by $R s .4, 00, 000$
Total Fixed Assets increase by Rs.500000
Less: Cash (Current Assets) decrease by Rs.100000
-------------------
Total Assets increased by Rs.400000
--------------------
Total Liabilities will increase by Rs.400000

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Similar questions

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, by making a down payment of Rs.

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and signing a Rs.

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Q. Information given is as follows:
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Actual purchased a car for Rs.5,00,000, by making a down payment of Rs.1,00,000 and singing a Rs.4,00,000 bill payable due in 60days. As a result of this transaction ____________.

Actual purchased a car for $R s .5, 00, 000$ , by making a down payment of $R s .1, 00, 000$ and singing a $R s .4, 00, 000$ bill payable due in $60$ days. As a result of this transaction ____________.