Deposits in the banks are:
Assets of the bank
Liabilities of the bank
Liabilities of the depositors
None of the above
Deposits are part of the liabilities of the bank.
Bank deposits of cash by depositors is called:
Show the effect of the following transactions on Assets, Liabilities and Capital through accounting equation
TransactionAmount (Rs.)a. Started business with cash1,20,000b. Rent received10,000c. Invested in shares50,000d. Received dividend5,000e. Purchased goods on credit from Ragini35,000f. Paid cash for household expenses7,000g. Sold goods for cash (costing Rs. 10,000)14,000h. Cash paid to Ragini35,000i. Deposited into bank20,000