Question

20.Prepare accounting equation from the following transactions:
a. Started business with cash of ₹ 1,00,000
b. Bought from Navin Traders ₹ 50,000
c. Returned goods to Navin Traders ₹ 5,000
d. Cash received from Navin Traders ₹ 43,000 in full settlement.
e. Opened Bank Account with ₹ 5,000
f. Withdrawn from Bank ₹ 2,000 for office use

Answer 1

Answer:

1,00,000-50,000-5000+43000-5000+2000=85000

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