Question

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P.A 1 of Accountancy
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Create an Accounting Equation on the basis of the
following transaction :-
1) Started business with cash Rs 40000 and
furniture Rs 20000.
2) Bought goods for cash Rs 10000 and on credit
from Atul for Rs 20000.
3) Goods bought from Atul on credit was sold for Rs
26000.
4) Cleared the account of Atul by paying Rs 19500.
5) Paid salary Rs 6000 and still unpaid Rs 2000.
5) Received Commission Rs 3000 including Rs 1000
as advance.


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Answer 1

Answer:

1000rs

Explanation:

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