Why Capital is Posted in the credit side? Concept of it
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Answer Posted / barodianbuddy(acca)
CAPITAL IS POSTED ON JOURNAL ON CREDIT SIDE AS OWNER IS CREDITOR TO BUSINESS DUE TO HIS INVESTMENT. ITS SHOWN IN STATEMENT OF FINANCIAL POSITION ON LIABILITY SIDE UNDER EQUITY SECTION AS SHARE CAPITAL OR EQUITY ACCORDING TO IAS 1.
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