Which one is the correct extended balance sheet equation ?

A Asset + Expenses = Liabilities + Income + Capital
B Asset + Expenses = Liabilities + Income - Capital
C Asset - Expenses = Liabilities - Income - Capital
D Asset - Expenses = Liabilities + Income + Capital

Correct Answer: Asset + Expenses = Liabilities + Income + Capital

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Rashna Company collected the following data in its accounting records in 2014 : From the income statement : Depreciation expense Tk. 1,000 Loss on sale of equipment 3,000 From the comparative balance sheet : Beginning balance , equipment Tk. 12,500 Ending balance , equipment 8,000 Beginning balance , accumulated depreciation 2,000 Ending balance , accumulated depreciation 2,400 No new equipment was purchased during the year. The equipment was sold at the end of the year. What was the cash in -flow from the sale of equipment in 2014?
A Tk, 3,900
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C Tk. 900
D Tk. 600
The Balance sheet reported a beginning balance TK. 20,000 in Accounts Receivable and an ending balance of TK. 15,000 . Credit sale of TK. 2,00,000 were made during the year. Using the information compute cash collection from customers.
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B TK. 1,95,000
C TK. 2,00,000
D TK. 2,15,000
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B TK. 1,95,000
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A TK. 4,00,000
B TK. 3,52,800
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A TK. 4,00,000
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C TK. 3,52,000
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A Assets = Liabilities + Capital
B Liabilities = Assets + Capital
C Capital = Assets + Liabilities
D All of these
Which one of the following could be described as an ' off balance sheet asset' ?
A Purchased goodwill
B Internally generated goodwill
C An asset being bought on hire purchase
D Leasehold land
Which one of the following could be described as an 'off balance sheet asset ?
A Purchased goodwill
B Internally generated good will
C As asset being bought on hire purchase
D Leasehold land
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A Internally generated goodwill
B An asset being bought on hire purchase
C Purchased good will
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B 50
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