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Furniture is Destroyed in Fire ??
Where it will effect in Balance sheet ??
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Answer Posted / syed rizwan ahmed
Debit "Exp. & Revenue Summary A/c
Credit "Furniture A/c"
Effect on Balance Sheet
Fixed Assets decreases (Assets Side)
Retained Earning decreases (Liabilities Side)
| Is This Answer Correct ? | 3 Yes | 1 No |
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