528.Accounts XI Impact on Accounting Equation Goods purchase
Arinjay Jain Academy
2015-07-13
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On purchase of goods,
Stock of goods would increase, which is an increase in an asset, hence Purchase account is debited
Liability would be created in favour of creditors, hence the creditors/suppliers account is credited.
This Video is meant for Students of CBSE, ICSE, NCERT in India and other equivalent Board across other countries.
Stock of goods would increase, which is an increase in an asset, hence Purchase account is debited
Liability would be created in favour of creditors, hence the creditors/suppliers account is credited.
This Video is meant for Students of CBSE, ICSE, NCERT in India and other equivalent Board across other countries.
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