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Description: The sum of the debit side of the capital account was (zero) and the sum of the credit side was (11680000) Howmuch is the account balance?

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The sum of the debit side of the capital account was (zero) and the sum of the credit side was (11680000) How much is the account balance?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 36MC: Which set of accounts has the same type of normal balance? A. Cash, accounts payable B. Prepaid...

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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The sum of the debit side of the capital account was (zero) and the sum of the credit side was (11680000) How
much is the account balance?

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