Question

1<br />Show te accounting equation on the basis of following transactions.<br />(a)Commenced business with Cash Rs. 120000; Goods Rs. 50000 and Furniture Rs. 30000<br />(b) Purchased goods from Gopal on Credit Rs. 45000.<br />© 1/3 of the above goods sold at a profit 25% on sales.<br />(d) Withdrew for personal use goods costing Rs. 5000 ( Sales Prices 6000)<br />(e) Outstanding salary Rs. 5000.<br />(1) Rent paid Rs. 15000 out of this Rs. 5000 related to next Years.<br />(g) Paid to Gopal Rs. 30000<br />(h) Purchased Typewriter for Personal use of the owner Rs. 20000<br />(i) Sold goods to Ram Rs. 65000(Costing Rs. 50000)<br />() Paid Interest on capital Rs. 1000<br />k) Building Purchases Rs. 1000000 payment made by taking bank loan<br />1) Loan installment Rs 58000 paid with in interest Rs. 8000<br />m) Commission received in advance Rs. 10000​

Answer 1

Answer:

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