Question

ꜱᴏʟᴠᴇ

❌ɴᴏ ꜱᴩᴀᴍᴍɪɴɢ ❌​

Answer 1

(i) Started Business with Cash Rs 70,000 +70,000 + 70,000

Equation +70,000 + 70,000

(ii) Purchase goods on credit Rs 18,000 + 18,000 + 18,000

New A/c Equation +70,000 + 18,000 + 18,000 + 70,000

(iii) Payment to creditors in full settlement Rs 17,500 -17,500 - 18,000 + 500

New A/c Equation +52,500 + 18,000 0 + 70,500

(iv) Purchased Machinery for Cash Rs 20,000 -20,000 + 20,000

New A/c Equation +32,500 + 18,000 + 20,000 0 + 70,500

(v) Depreciation charged on Machinery Rs 2,000 -2,000

-2,000

Final Equation 32,500 + 18,000 + 18,000 = 0 + 68,500

Answer 2

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