1:- Consider the following transactions:- Started business with Cash Rs. 30,000 Furniture purchased on cash Rs. 5,000 Goods purchased on cash Rs. 7,000 Goods sold on cash Rs. 6,000 Salary paid Rs. 2,000 ir :- Accounting equation.
Answers
Answered by
2
Answer:
S. No.
Transactions
Assets
=
Liabilities
+
Capital
Cash
(Rs)
+
Stock
(Rs)
=
Creditors
(Rs)
+
Outstanding Rent
(Rs)
(Rs)
(i)
Harish started business with cash
18,000
=
18,000
18,000
=
18,000
(ii)
Purchased goods for Cash Rs 5,000 and on credit Rs 2,000
– 5,000
+
7,000
=
2,000
13,000
+
7,000
=
2,000
+
18,000
(iii)
Sold goods for cash Rs 4,000 costing Rs 2,400
4,000
– 2,400
=
1,600
(Profit)
17,000
+
4,600
=
2,000
+
19,600
(iv)
Rent paid Rs 1,000 and Rent Outstanding Rs 200
– 1,000
=
200
– 1,200
Assets
=
16,000 + 4,600
=
Rs
20,600
Liabilities
=
2,000 + 200
=
Rs
2,200
Capital
=
Rs
18,40
Answered by
1
Answer:
Total Assets =
Cash + Bank + Stock =40,500 + 4,500 + 11,200
=Rs 56,200
Liabilities=11,200
Capital=45,000
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