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
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
