Question

1. Commenced business with cash 50,000. 2. Purchased goods for cash
credit * 30,000. 3. Sold goods for cash * 40,000, costing * 30,000. 4. Rent paid 500,
Salaries 5,000. 5. Rent outstanding 100, Salaries Outstanding 1,000. 6. Bought
furniture * 5,000 on credit. 7. Bought refrigerator for personal use * 5,000.
8. Purchased computer for cash * 20,000. 9. Cash withdrawn for personal use
* 10,000. 10. Interest on drawings charged 500 and the interest on Capital * 1,000.
Use Accounting Equation to show the effect of the above transactions on his assets,
liabilities and capital and also show his Balance Sheet.​

Answer 1

Answer:

Explanation:

Accounting Equation : Capital + Liabilities = Assets

Answer 2

Explanation:

Balance sheet is not shown in the picture.

Only accounting equation is provided.

Balance sheet can be easily made