Question

15. Show the effect of following transactions on accounting equations:
© George started business with cash 45,000 and bank balance 35,000.
m Purchased goods for cash 20,000 and on credit * 10,000.
im Sold half of the total above goods purchased at a profit of 20% on cost.
(iv) Dividend received from Tata Tea co. * 4.000 by bank draft.
(v) Advance received from a customer 5,000 by cheque
(vi) Goods destroyed by fire * 12.000. Insurance company admitted the claim for
9.000
and hea aamnany among its​

Answer 1

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Answer 2

Explanation:

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