loss reduces the the owner's equity(Profit) not the asset cash unless the loss is in terms of cash. So I think the loss of goods would not be minus from cash in hand. What do you say?
You are doing Great work I appreciate but please notice You have made a mistake when cash is paid to creditors 10,000 Definitely it will be paid by hand or from bank as a cheque As there is no mentioning of cheque So it will be By hand So you better decrease it from cash in hand and the cash in hand will be 780,000 !!!!!!!!!!!!!!! Correct this
loss reduces the the owner's equity(Profit) not the asset cash unless the loss is in terms of cash. So I think the loss of goods would not be minus from cash in hand. What do you say?
You are doing Great work I appreciate but please notice You have made a mistake when cash is paid to creditors 10,000 Definitely it will be paid by hand or from bank as a cheque As there is no mentioning of cheque So it will be By hand So you better decrease it from cash in hand and the cash in hand will be 780,000 !!!!!!!!!!!!!!! Correct this
Mine is also 780,000
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