Question

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Accountancy XII Unit Test- 1 dated 16-12-2020.pdf
Q
Raghunath had the following transactions in an accounting year:
(i) Commenced business with cash 50,000.
(ii) Paid into bank * 10,000.
(iii) Purchased goods for cash 20,000 and credit 30,000.
(iv) Sold goods for cash 40,000 costing * 30,000.
(u) Rent paid 500.
(vi) Rent outstanding * 100.
(vii) Bought furniture * 5,000 on credit.
(viii) Bought refrigerator for personal use * 5,000.
(ix) Purchased motorcycle for cash 20,000.
Create an Accounting Equation to show the effect of the above and also show his B.​

Answer 1

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