An asset was purchased for Rs.1000000 with the down payment of Rs.200000 and bills accepted for Rs.800000/-What

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An asset was purchased for Rs.1000000 with the down payment of Rs.200000 and bills

accepted for Rs.800000/-What would be the effect on the total asset and total liabilities in the

balance sheet?

A] Assets increased by Rs.800000 and liabilities decreased by Rs.800000

B] Assets decreased by Rs.800000 and liabilities increased by Rs.800000

C] Assets increased by Rs.1000000 and liabilities increased by Rs.800000

D] Assets increased by Rs.800000 and liabilities increased by Rs.800000

Related Book For answer-question

Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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Posted Date: Feb 14, 2023 03:28 AM

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An asset was purchased for Rs.1000000 with the down payment of Rs.200000 and bills accepted for Rs.800000/-What

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Expert Answer:

The detailed answer for the above question is provided below D Assets increased by Rs80000... View the full answer

Engineering Economy

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