Hi Shashank, First of all you must have this in your mind that business firm and owner of that firm both have their separate identities.
According to accounting rules we assume that firm is like an other person with whom we do dealing of receipts and payments. To understand it easily here is an example:-
If you give Rs. 100,000 to your friend for a startup then the amount you gave would be liability to him, same as that when you brought any amount in the form of capital in your business that would be liability for the business. Your firm is liable to pay your money back as every business firm has its legal septate identity.