Question

18 Prepare Accounting Equation from the following: -
() Ram started business with cash Rs. 20,000
(ii) Purchases goods for Rs. 5,000
(iii) jent received Rs. 2,000
(iv) Sold goods costing 3,000 for Rs. 6,000
(v) Paid Salaries Rs. 2,000​

Answer 1

ANSWER:-

Cash +20000 ,capital +20000

Stock + 5000 , Cash -

Rent + 2000 ,Cash +2000

Cash +3000,stock -3000, debtors+6000

salary +2000 Cash -2000