Please solve this ???
Solution:
As per 3 golden rules of accounting
(i) increase in revenue: credited
(ii) decrease in expense: debited
(iii) drawings: debited
(iv) the fresh capital introduced by the owner: credited.
As per 3 golden rules of accounting
(i) increase in revenue: credited
(ii) decrease in expense: debited
(iii) drawings: debited
(iv) the fresh capital introduced by the owner: credited.