FAR 1

Assets=Liabilities-Capital

Assets=Capital- Liabilities

Assets=Liabilities+Capital

Assets=External equities

an increase in asset

a decrease in asset

an increase in liability

an increase in proprietor's equity

Wages A/c be debited

Installation charges A/c be debited

Machinery A/c be debited

an expense

a loss

an asset

none of these

personal account

real account

nominal account

expense account

accounts payable account

salaries outstanding account

discount received

All of the above accounts

Accounts receivable account

Accounts payable account

Loan account

Gain on sale of the asset

Discount received account

sales account

trade expenses account

loan account

Personal

Nominal

Real

All of these

Debit the receiver and credit the giver

debit all expenses and credit all incomes

debit what comes in and credit what goes out

none of these