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Accounting equation for the repayment of loan of $20,000, and payment of electricity bill of 1000?
a) assets -21000, capital -21500
b) assets -21000, liabilities -21500
c) assets -21000, liabilities -20000, expense +1000
d) assets -21000, liabilities – 20000, capital -1000Surely the book in which you found this question also has the answers.
So I am puzzled why you are simply setting me a question. Better is if you ask what you don’t understand about the answer.
This is almost identical to the other question you asked which had loan interest in it.
The answer is (c) for exactly the same reasons.You must watch the free lectures – this is covered in the second lecture.
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