Question

3. Following transactions are related to Ravi Raja, use accounting equation to show their on assets, liabilities and capital, also prepare final Balance Sheet:
(i) Ravi Raja started a business with cash
(ü) Deposited into Bank
(iii) Purchased machinery from Mahek
(iv) Purchased furniture for cash, paid by cheque
(v) Paid salary
(vi) Purchased goods for cash
(vii) Withdrawn cash from Bank for private use
(viii) Outstanding rent​

Answer 1

the correct answer is

Explanation:

outstanding rent

Answer 2

Answer:

(1) + in capital

(2)-cash

(3)