Question

22. Show the effect of following transactions on accounting equations and Prepare Balance
Sheet.
i) George Started business with cash Rs 45,000 and Bank balance Rs 35,000.
ii) Purchased goods for cash Rs 20,000 and on credit Rs 10,000.
iii) Sold half of the above goods purchased at a profit of 20% on cost.
iv) Dividend received from Tata Tea Co. Rs 4,000 by Bank draft.
v) Advance received from a customer Rs 5,000 by cheque.
vi) Goods destroyed by fire Rs 12,000.Insurance company admitted claim for Rs 9,000.
vii) Purchased an office equipment for Rs 15,000.giving Rs 5,000 in cash and the balance
through a loan. 10​

Answer 1

Answer:

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Answer 2

Explanation:

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