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Capitalbrought by owner
Hi,i have a doubt that why capital is shown on liabilities side can anyone help me in this regard in so detail..
Replies (2)
Head is now changed to Equity and liabilities therefore capital comes under equity not liabilities.Capital is credited because double entry is to make for cash so accumulated in assets side or debit. i hope it helps
As per accountin concept i.e. he business entity concept states that the transactions associated with a business must be separately recorded from those of its owners.
Sbusiness and owner are separate so that Capital shown liab. side
But now equity is residuary interest in business so that shown as equity and liab side
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