Question

16. Prepared accounting equation from the following information
1) Sweetie started business with cash Rs 50000, machine Rs 80000 and stock Rs 70000
2) Sold goods to bites for Rs 25000 out of which Rs 10000 were received in cash and Rs
15000 were to be received after 1 month. These goods were sold at a profit of 25 % on
cost
3) depreciate machinery by 10%
4) Paid salary Rs 5000 in cash and outstanding salary Rs 2000​

Answer 1

Answer:

Prepare Accounting Equation from the following and also prepare a Balance Sheet : - <br> 1. Raghu started business with Cash Rs. 1,50,000. <br> 2. Bought goods for cash Rs. 80,000 and on credit for Rs. 40,000. <br> 3. Goods costing Rs. 75,000 sold at a profit of

. Half the payment received in cash. <br> 4. Goods costing Rs. 10,000 sold for Rs. 12,000 on credit. <br> 5. Paid for Rent Rs. 2,000 and for salaries Rs. 4,000. <br> 6. Goods costing Rs. 20,000 sold for Rs. 18,500 for Cash.