What Is Effect of Decreases An Asset And Decreases Equity On Accounting Equation
When the owner of the business withdrew Cash Rs. 5000 for his own personal use, then this Transaction has two fold effects on Accounting Equation , but first, we need to learn what is the Journal Entry : Drawings Account 5000 Cash Account 5000 (Cash Withdrawn For Personal Use From business) Assets = Liabilities + Owner’s Equity (5000) = ...