Question

21. Show the accounting equation on the basis of following transactions.
(ii) Anant started business with Cash * 80,000 and Stock * 20,000 and Machine 45,000.
2 (iii) Goods purchased 20,000 on credit.
3 (iv) Goods costing * 10,000 sold for * 15,000 on credit.
(v) Purchased goods on cash 10,000.
(vi) Depreciate Machine by 2,000.
(vii) Bad debts write off * 4,000.
(viii) Cash received 9,500 from customer and allowed him discount 500.
(ix) Bad debts recovered 1,000.
(x) Cash paid to creditors 19,600 for full settlement of his account.​

Answer 1

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