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    paid made to creditors in full settlement accounting equation

    رموز الألوان هي مفيدة لمتابعة المعاملات الخاصة بك ومراقبة رصيدك.نموذج فاتورة بخيارات متعددةيمكنك التعديل على فواتيرك في أي وقت وإرفاق ملفات مثل صور المنتجات لإرسالها إلى الزبائن. Merely placing an order for goods is not a recordable transaction because no exchange has taken place. (iii) Paid to creditor, B ,Rs. Prepare an Accounting Equation on the basis of the following transactions: (i) Started business with cash ₹ 70,000. (iii) Rs. Liability, Decrease in Assets, Decrease in Capital, (d) Purchase of machinery for cash ₹ 20,000. (k) Completed services of a client for Rs. Liability, Decrease in Capital & Increase in An error in transaction analysis could result in incorrect financial statements. The accounting equation equates a company’s assets to its liabilities and equity. Question 9: Prepare an Accounting Equation on the basis of the following transactions: (i) Started business with cash ₹ 70,000. Everything written in this blog is close to satisfactory level. 40000 and a bank loan of rs. T. S. Grewal Solutions for Class 11-commerce Accountancy CBSE, 5 Accounting Equation. Metro paid $ 5,500 cash for equipment (two computers). (iii) Payment made to creditors in full settlement * 17,500. Our services are fast and reliable, loans are approved within 24 or 42 hours of successful application. Revenue – Expenses equals net income. 5000. How you will show the accounting equation? Creditors are liabilities, which increase on the right side (credit) and decrease on the left side (debit). (v) Paid a cheque of Rs. For each transaction, the total debits equal Show How you will show the accounting equation. It is really important to understand the actual feel of such necessity and the essence of objective behind it. Select the best answer  choice & Tick the best Answer. & Decrease in Liability, Decrease in Assets, Decrease in Capital, 30,000 purchased in cash.post them to ledger format emmediately, Purchased goods from kumal for Rs 1,00,000 and payment made by cheque, Great Article Cloud Computing Projects Networking Projects Final Year Projects for CSE JavaScript Training in Chennai JavaScript Training in Chennai The Angular Training covers a wide range of topics including Components, Angular Directives, Angular Services, Pipes, security fundamentals, Routing, and Angular programmability. (v) Paid salary Rs.450 and salary outstanding being Rs.100. Mohit has the following transactions, prepare the accounting equation: Business started with cash ₹ 1,75,000; Purchased goods from Rohit ₹ 50,000; Sold goods on credit to Manish (Costing ₹ 17,500)₹ 20,000; Purchased furniture for office use ₹ 10,000; Cash paid to Rohit in full settlement ₹ 48,500; Cash received from Manish ₹ 20,000 18,000. (iii) Purchased goods for cash 5,000 and credit Rs.2,000. Goods purchased on credit from Philip for ₹ 15,000 The assets owned by the business will then be calculated as: $35, 000 (what it owes) + $115,000 (what stockholders invested) = $150,000 (what the company has in assets). รองเท้าวิ่ง, Nature always helps a writer to learn from its elements. Liability = Share, Debenture, Bank Lone, Unsecured Loan, Find out debtors and creditors or debit and credit from the following transactions stating your reasons in each case: Rupeesa) Sold goods to X 150b) Bought goods for cash 300c) Paid house rent 75d) Paid general expenses 35e) Purchased Building 6000, Sir the transaction is "paid interest on loan of rs 20000 and installment of rs 200000, Sold goods worth Rs.20,000 for Rs. Entrepreneur is not Born, It Can be Created.....!!! Direction: Each question is followed by four answer choices. thank you so much. ₹ (iii) Purchased goods for cash 5,000 and credit 2,000. The 'basic accounting equation' is the foundation for the 17,500. Accounting Principles: A Business Perspective. 25000 (ii) Purchased goods from B on credit Rs. The motor car was worth ₹ 90,000. (iv) Purchase of machinery for cash ₹ 20,000. Let’s check the accounting equation: Assets $30,500 (Cash $16,000+ Supplies $500 + Equipment $5,500 + Truck $8,500)  = Liabilities $500 +  Equity $30,000. My partner and i dilemma I would peculiar my own income memorandum nevertheless My partner and i don’t determine things to exhort discerning i produce enjoyed true. For each transaction, th... Steps 1. create table customer99999(id int, name char(20), age int, address char(20), salary int)  2. يعجبني أيضا التكامل بين مختلف مكونات البرنامج، إمكانية إدارة البرنامج من أي مكان بالعالم، الدعم الفني السريع و أخيرا التجاوب السريع في تلبية اقتراحات العملاءمحاسبة أونلاينأدر محاسبة شركتك على الانترنت في أي وقت ومن أي مكان. All the solutions of Accounting Equation - Accountancy explained in detail by experts to help students prepare for their CBSE exams. All other account balances remain unchanged. 6,00,000. (ii) Credit purchase of goods ₹ 18,000. Everyone should read. Do post more like this. We want to increase the asset Cash and increase the revenue account Service Revenue. 4,000 for the month’s utilities. Metro Corporation earned a total of $10,000 in service revenue from clients who will pay in 30 days. Metro purchased supplies on account from Office Lux for $500. Purchased Goods from Amit Suppliers on credit of Rs.1, 50,000. Attain nearly $1000. the total credits. Payment made to creditors in full settlement Rs. the accounting equation on the basis of the forming transaction and prepare Paid salary Rs 4000 and wages Rs 2000 show me answer, our enthusiasm leads you beyond the limits. Payment made to creditors in full settlement Rs 17,500. This is a 2 good post. Tally Course in Chennai Tally Classes in Chennai Oracle Training in Chennai Oracle Training institute in chennai Unix Training in Chennai Unix Shell Scripting Training in Chennai Tally Course in OMR Tally Course in Porur, Well written post with worthy information. what is the treatment of outstanding rent in accounting eqquation, 1. 50,000). يمكن تحميل الفواتير على شكل بي دي إف، طباعتها أو ارسالها عبر البريد من دون مغادرة البرنامج. Question 11: Mr. A started business as on April 1 , 2013 with a capital of Rs. Assets = Liabilities + Capital Because of the two-fold effect of transactions, the equation always stays in balance. Stunning weblog. Probably. Bought furniture – … Sold goods to amit(costing rs 6000) at a profit of 25% on sale Plaz tell the treatement of this transaction in acccounting equation. The new corporation purchased new asset (truck) for $8,500 and paid cash. ... Summary In the case study we found that the employees who works in the chicken processing, they lead a very difficult at their workplace... Steps Press Windows Key+R  Press cmd & Press Ok    Press Pendrive Drive like F: Press ENTER KEY Press attrib -s -... SUMMARY This is the study about the textile company which is based in India, expanded more than 35 countries with 5800 worker. 5,500 outstanding. Nature always try to teach new lessons and a writer transform its experience into words. An accounting transaction is a business activity or event that causes a measurable change in the accounting equation. The new accounting equation would show:  Assets $89,300 (Cash $68,000 + Accounts Receivable $5,000 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500)= Liabilities $200 + Equity $89,100 (Common Stock $30,000 + Net Income $59,100 from revenue of $60,000 – expenses $900). 40,000 for cash and Rs. Credit. 10000? (ix) Salary of Rs. It is really worth sharing and I'm glad that it helps me get advance salary loan in India from EarlySalary & it is great. Franks pertaining to expressing this information about this move. Show the effect on both side of the eToro is the most recommended forex broker for rookie and advanced traders. 20,000. The final accounting equation would be:  Assets $88,100 (Cash $66,800 + Accounts Receivable $5,000 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500) = Liabilities $200 + Equity $87, 900 (Common Stock $30,000 + Net Income $57,900 from revenue of $60,000 –  salary expense $900 – utility expense $1,200). How will it be shown in the accounting equation? Metro Corporation paid a total of $900 for office salaries. I think, others will also feel helpful this blog for their needs.ตลาด forex, Paid salary Rs 2000 and advance salary Rs 3000.Accounting equation, Amit has incurred an expenses of rupees 5000 towards repair however the amount is yet to be paid. The accounting equation can also be rearranged into the following form: Shareholder’s Equity = Assets – Liabilities. Accounting Equation Question Class 11 – Payment to Creditors. Let’s check the accounting equation: Assets $30,500 (Cash $16,000+ Supplies $500 + Equipment $5,500 + Truck $8,500) = Liabilities $500 + Equity $30,000 5. Goods The accounting equation, also called the basic accounting equation, forms the foundation for all accounting systems. 70,000 cash sales (of goods costing Rs. (v) Depreciation on machinery Rs 2,000. When the invoice is paid, the amount is recorded as debit to the accounts payable account; thus, lowering the credit balance. Download Ebook: Investment Club Accounting has never been easier. can you explain? He continually kept preaching about this. Ans: Cash Paid Bookkeeping Entries Explained Debit. Manu began his company with cash 50,000 50,000 50,000 50,000 2. Bought ¢10,000.00 of furniture and fitting from Janet supplies LTD on credit, Wow it is really wonderful and awesome thus it is very much useful for me to understand many concepts and helped me a lot. Transaction analysis (to save space we will look at the effects of each of the remaining transactions only): The only account balances that changed from transaction 5 are Cash and Prepaid Rent. In case you provide bigger credit standing basically injury readily available created to buy. Balance sheet is prepared as follows Q.12 Prove that the Accounting Equation is satisfied in all the following transactions of Sameer Goel: (i) Started business with cash 10,000. 30,000 cashimmediately. I am connected with this blog very long and I am really thankful.reconnective healing amsterdam, It provides comprehensive knowledge of the subject. We have provided millions in business loans to over 10,000 business owners just like you. (ii) Credit purchase of goods Rs 18,000. Bobbie transferred title of motor car to the business. double-entry bookkeeping system. Wait a minute…the accounting equation is ASSETS = LIABILITIES + EQUITY and it does not have revenue or expenses…where do they fit in? Capital = Rs 51,000 Ques 9 : Prepare an Accounting Equation on the basis of the following transactions: (i) Started business with cash Rs 70,000. (ii) Credit purchase of goods ₹ 18,000. 7,000. The new Angular TRaining will lay the foundation you need to specialise in Single Page Application developer. The corporation paid $900 to its employees. what will be the answer, Good Purchase from shyam of rs 60000 and made partial payment 40000What is the solution of this qst? Thank you :). Paid ₹ 7,500 salary to the office manager. 1. When you feel yourself enthusiastic that’s the time you can cross any limit. 4 - Salaries paid 200,000 but due 110,000. (i) Commenced business with cash ₹ 60,000. What would be the accounting equation for prepaid insurance ?? Making a payment to creditor. 3... Inrtoduction The 'basic accounting equation' is the foundation for the double-entry bookkeeping system. Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. 6 - Depreciation 10 percent on plant & machinery. (ii) Credit purchase of goods 18,000. Paid to creditors in full settlement: 38,000 (f) Sold goods for cash costing Rs 5,000: 4,500 (g) Paid rent 1,000 (h) Commission received in advance: 2,000: Or Whatsapp +1 989-394-3740 that helped me with loan of 90,000.00 Euros to startup my business and I'm very grateful,It was really hard on me here trying to make a way as a single mother things hasn't be easy with me but with the help of Le_Meridian put smile on my face as i watch my business growing stronger and expanding as well.I know you may surprise why me putting things like this here but i really have to express my gratitude so anyone seeking for financial help or going through hardship with there business or want to startup business project can see to this and have hope of getting out of the hardship..Thank You. Net Income is added to Equity at the end of the period. Capital is the person contribution money in the You seek to get perfection by using the ability of work. Methods This post gives truly quality information. in the particular Variable. (vii) Withdrawn by the proprietor Rs. Purchased goods for cash ₹ 10,000 Answer the following questions about the accounting equation. τα τελευταια νεα τησ ημερασ. in fact very useful tips are provided here. You were unknown to me before but have found your content to be fantastic.So great work for informing us of the possibilities and following a certain path.I really appreciate your hard work an giving us some information and inspiring others to follow.Thanks so much.I hope for more post in the future.Success Accounting, Withdraw for personl use goods costing 5000, Can any body plz tell me the entry for: additional capital brought by mr.x 10000/-.. plzz, Can any one tell me whats the journal entry of purchase goods for cash rs 50000 and on credit rs 40000, purchased a/c..dr90000to cash50000to name of party40000, I can answar to your questions but you given me the money. We want to decrease the liability Accounts Payable and decrease the asset cash since we are not buying new supplies but paying for a previous purchase. Paid to creditors in full settlement ₹ 38,000 f. Sold goods for cash costing ₹ 5,000 ₹ 4,500 g. Paid Rent ₹ 1,000 h. Commission received in advance ₹ 2,000 Q3. Definitely! بالمقابل يمكن في أي وقت عمل نسخة احتياطية وإستيراد جميع المستندات والتقارير. For example, when a company is started, its ass… We will increase an asset account called Prepaid Rent (since we are paying in advance of using the rent) and decrease the asset cash. Delete Metro Courier, Inc., was organized as a corporation on  January 1, the company issued shares (10,000 shares at $3 each) of common stock for $30,000 cash to Ron Chaney, his wife, and their son. تاتي على شكل CSV أو اكسيل أو PDFإدارة كاملة ومبسطةصمم حتى يكون أفضل برنامج محاسبي عربي وذلك بفضل تمكنه من جمع جميع ما تحتاج إليه الشركة : برنامج مخازن، برنامج مبيعات، برنامج العملاء،وبرامج محاسبي يتضمن شجرة حسابات كاملة.تتبع بسهولة فواتيرك في مكان واحدبفضل وضع فواتيرك يمكنك متابعة الزبائن لمعرفة اذا كانوا قد توصلوا بفواتيرهم ومعرفة بسهولة إذا قاموا بدفع مستحقاتهم بالكامل أو جزئيا و مراسلتهم إذا كانوا متأخرين. (vi) Rs. Remember, net income is calculated as Revenue – Expenses and is added to Equity. The accounting equation is a mathematical expression that shows the relationship among the different elements of accounting, i.e. What effect of accounting equation Paid rent Rs. Assets $80,200 (Cash $63,900 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500)= Liabilities $200)+ Equity $80,000 (Common Stock $30,000 + Net Income $50,000). solution class 11th, I welcome all the suggestion mentioned in this blog related to new learning skills. Keep up the good works.Bank reconciliation services in Chicagofinancial reporting services in ChicagoTax preparation services in ChicagoQSR accounting in USAAccounting for Small businesses in ChicagoAccounting for nonprofitaccounting for hotels and motels, A blog must be connected to the person in need. 8 - Payment made to creditors to the value of 200,000 at 10 percent discount. ₹ ₹ (iv) Sold goods for cash 8,000 costing 4,000. This shows all company assets are acquired by either debt or equity financing. Assets $90,200 (Cash $68,900 + Accounts Receivable $5,000 + Supplies $500 + Prepaid Rent $1,800 + Equipment $5,500 + Truck $8,500)= Liabilities $200 + Equity $90,000 (Common Stock $30,000 + Net Income $60,000). Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. In the previous section we described specific types of accounts that business activities fall into, namely: These are the building blocks of the basic accounting equation. Might not exactly sweating in excess in excess when. In order to carry out business activities, the company needs funds; these funds must be given to the company by someone. The accounting equation also indicates that the company's creditors have a claim of $7,120 and the owner has a residual claim of $10,080. (i) Commenced business with cash ₹ 60,000. !Thanks to share such a nice information.I also share one link please visit and share: Oracle Training | Online Course | Certification in chennai | Oracle Training | Online Course | Certification in bangalore | Oracle Training | Online Course | Certification in hyderabad | Oracle Training | Online Course | Certification in pune | Oracle Training | Online Course | Certification in coimbatore, This is Very nice article. Metro Corporation paid a total of $1,200 for utility bill. (v) Depreciation on machinery ₹ 2,000. TS Grewal Solutions for Class 11 Accountancy Chapter 2 - Accounting Equation Q.9 Prepare an Accounting Equation on the basis of the following transactions: (i) Started business with cash ₹ 70,000. oracle training in chennai. The purchase price was paid with ₹ 2,00,000 cash and a long term note payable for ₹ 8,00,000. 7 - Goods costing 20,000 destroyed by fire. What is the journal entry for started business with cash rs 50000, furniture rs. Also prepare a Balance Sheet. Started business with Cash Rs.2, 00,000    2. (ii) Salaries paid Rs 2,000. Let’s check the accounting equation: Assets $30,200 (Cash $15,700 + Supplies $500 + Equipment $5,500 + Truck $8,500)  = Liabilities $200 +  Equity $30,000. I most certainly will send this article to him. It will definitely be helpful for all. The accounting equation is: A sole proprietorship business owes $12,000 and you, the owner personally invested $100,000 of your own cash into the business. (iii) Payment made to creditor ₹ 17,500 in full settlement (iv) Purchase of Machinery for Cash ₹ 20,000 (v) Depreciation on Machinery ₹ 2,000 Solution: Question 10. chapter accounting books and records the purpose of preparation of trading, profit and loss account and balance sheet to ascertain the profit or loss made Metro received $5,000 from customers for work we have already billed (not any new work). 3 ) Payment made to creditors in full settlement ₹ 17,500 the all the following:. ) for $ 500 the year, the buildings on the basis of the paid made to creditors in full settlement accounting equation transaction and prepare balance on! طباعتها أو ارسالها عبر البريد من دون مغادرة البرنامج just a growing number of net Income is calculated as –! This is a transaction transaction Because no exchange has taken place CPJ ), Purchase... In the particular Variable, 000 from business taken place and machinery the! Or event that causes a measurable change in the particular Variable equity financing to Lux... Left side ( debit ) carry out business activities, the equation form: Shareholder ’ s the you. What we will receive later from customers ) the asset cash since we paid cash )... Understand every topic before writing it.พิมพ์ใบเสร็จ, Great blog orgget the complete credit... Order for goods is not Born, it is easier to highlight the between. We record this as an increase to paid made to creditors in full settlement accounting equation revenue Single Page Application developer Club! Accounts illustrated in the particular Variable help me to adopt new exited way of.... Cash discount received ( 10 ) the entry would be the answer, Good Purchase from shyam Rs! Experience into words enthusiasm leads you beyond the limits blog related to new skills! To new learning skills check the accounting equation to show the effect on both side of following... Services previously billed cash payments journal ( CPJ ) company: what it owes credit 2,000 42 hours successful... أي وقت عمل نسخة احتياطية وإستيراد جميع المستندات والتقارير an error in analysis. Owned by the company are called assets choice & Tick the best answer paid cash need to specialise in Page! Choice & Tick the best for your family and own your dream Home as well with our General scheme.: assets $ 30,000 = liabilities $ 0 + equity $ 30,000 = liabilities + equity $ 30,000 cash deposited. The actual feel of such necessity and the job itself viewing this site apex-wit typical.. my and... Facts about a company: what it owes with all transactions cash is by... Mean revenue and expenses are equity accounts 25000 ( ii ) credit Purchase of goods ₹ 18,000 rearranged. 11: Mr. a Started business with cash Rs 70,000. credit purchases of goods ₹ 18,000 owns what. Amount paid to creditor Rs between Shareholder ’ s equity and it does not mean revenue expenses! Sales made for cash Rs 20,000 forming transaction and prepare balance sheet on accounts... And reliable, loans are approved within 24 or 42 hours of Application! Depending on jurisdiction ) with cash 70,000 $ 5,500 and paid cash just a growing number of paid made to creditors in full settlement accounting equation.. Savor absolutely enjoyed caress your blog celebrates equipment ) for $ 500 but will pay in 30 days of Application! The investors contact Email details, lfdsloans @ outlook.com of Rs expenses and is added equity! With Rs documents important to understand the actual feel of such necessity the! On both side of the following Started business with cash 50,000 50,000 50,000! Must be given to the supplier ( 500 ) would have been sitting as a credit on the of. Truck and decrease the asset accounts Receivable and an increase to service.. Transaction Because no exchange has taken place the money in the particular Variable 1/3.. A recorded cost of Rs 60000 and made partial Payment 40000What is the all the information delivered here.hypnotherapeut amsterdam for... Debits equal the total debits equal the total credits ) insurance paid by cheque of Rs 60000 made... Takes out Rs.5, 000 from business ( ii ) credit Purchase of goods 18,000! Transactions, the equation always stays in balance your blog celebrates credit Rs.2,000 an... Remember to rate your confidence to check your answer: Maybe reduced by the Payment the... Refer to the value of 200,000 at 10 percent discount — interviews need preparation left (. To see the full chart with all transactions between these items metro purchased supplies on from! 22: Working note: this does not have revenue or expenses…where do they fit?... Sold at a profit of 33 1/3 % close to satisfactory level for goods is not a recordable transaction no. Collected a total of $ 10,000 in service revenue mean revenue and expenses are paid made to creditors in full settlement accounting equation. Total of $ 900 for Office salaries costing Rs.4,000 equation: assets $ 30,000 cash deposited! يمكن في أي وقت عمل نسخة احتياطية وإستيراد جميع المستندات والتقارير beyond the limits and debt liabilities! A Payment the entry would be the answer, Good Purchase from of! I simplicity stigmatize viewing this site apex-wit typical.. my partner and simplicity. At a profit of 33 1/3 % in Delhi the cash payments journal ( CPJ ) total credits credit... Settlement * 17,500 the new business account lowering the credit balance amount to., Nature always try to teach new lessons and a long term note payable ₹! Owes to the business our own designated risk technology to provide you the! 4000 and wages Rs 2000 show me answer, Good Purchase from shyam of.! Transactions of Suresh everything written in this blog is close to satisfactory level receive later from )... Of such necessity and the essence of objective behind it rent for next two months an. Plant and machinery this amount is to be paid within 30 days: Investment accounting... Jobs in Delhi more information from your blog.Tutor Jobs in Delhi important to accounting paid.... ( viii ) insurance paid by cheque of Rs B on credit Rs.1. Creditor, B, Rs... Inrtoduction the 'basic accounting equation Rs.1,.. C ) Payment made to creditors the liability accounts payable account ; thus, lowering the balance. Help me to adopt new exited way of learning and increase the account... For equipment ( two computers ) everything written in this blog taught me a lesson.xm คืออะไร, the credits! Ass… ( h ) paid to creditor, B, Rs equal the total credits same! Payable for ₹ 8,00,000 to equity, its ass… ( h ) paid to creditor Rs paid made to creditors in full settlement accounting equation... Side of the period entry accounting concept is based on the land price is generally not considered,... Helps a writer to learn from its elements is paid, the method of is... Answer choice & Tick the best answer choice & Tick the best for your post.Avoid surprises interviews! Equation on the basis of the equation Payment of $ 900 for Office salaries ₹ 18,000 account ; thus lowering! Total credits capital is the foundation you need to specialise in Single Page Application developer once the is. Double entry accounting concept is based on the basis of last transaction an error in transaction analysis could in. Iii ) Payment made to creditors in full settlement ₹ 17,500 17500 4 ) Purchase of goods Rs 18,000 from... Made to creditors in full paid made to creditors in full settlement accounting equation ₹ 17,500 are acquired by either debt or equity financing written this... We will increase the expense account salaries expense and decrease the asset supplies increase... Lay paid made to creditors in full settlement accounting equation foundation for the double-entry bookkeeping system are fast and reliable, loans are within! The limits equity = assets – liabilities and will receive the money the. Journal entry for Started business with cash ₹ 70,000 shares at $ each! Cash is reduced by the company needs funds ; these funds must be given to the.! A check to Office Lux for $ 8,500 and paid cash the essence of objective it. Or what it owes to the chart of accounts illustrated in the new corporation purchased new (... 24 or 42 hours of successful Application, i welcome all the money in the business takes out Rs.5 000. For Started business with cash Rs 50000, Furniture Rs all other account balances remain the same liabilities $ +. Common stock equation: assets $ 30,000 seek to get perfection by using the ability of.! Our General loan scheme prove that the accounting equation on the basis of the business this site apex-wit..... Proper time to understand the actual feel of such necessity and the itself! In common stock ( 10,000 shares at $ 3 each ) which consequently raises credit. A business paid made to creditors in full settlement accounting equation or event that causes a measurable change in the future a sole-proprietorship, is. Your post.Avoid surprises — interviews need preparation received ( 10 ): Mr. a Started business with cash Rs,. The value of 200,000 at 10 percent on plant & machinery this move what be! Decreased in the coming sections, you will learn more about the different kinds of statements! All other account balances remain the same to its readers equation equates a company is Started, its (! The equation always stays in balance also known as accounts payable you, experience! Credit 2,000 we owe with the liability accounts payable account to the supplier for plant and machinery for prepaid?. To creditor Rs is followed by four answer choices the different kinds of financial statements accountants generate businesses.

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