1. Prepare Accounting Equation on the basis of the following:
a. Harish started business with cash Rs 2,00,000
b. Purchased goods from Naman for cash Rs 1,40,000
c. Sold goods to Bhanu costing Rs. 10,000
d. Bought fumiture on credit Rs. 7,000
e Withdrawn cash for personal use Rs. 2,000
f Deposited cash into bank Rs.5,000
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Answer:
Asset = cash 1,60,000 + Goods 30,000 + Debtors 12,000 +Furniture7,000 = 2,09,000, Liabilities = Creditors 7,000 + Capital 2,02,000 = 2,09,000
Explanation:
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