Question

(3)Prepare Accounting Equation from the following information: (3)

(a)Commenced business with Cash Rs6, 00,000, Bank Rs1, 00,000, GoodsRs2, 00,000, Machinery Rs2,

50,000 and Building Rs3, 00,000.

(b)1/4th of the goods sold at a profit of 10% on cost and half of the payment is received in Cash.

(c)Purchased goods Costing Rs30, 000 for Rs20, 000.

(d)Depreciation is charged on Machinery @ 10%.

(e)Withdrawal from the business Rs10, 000 for personal use.

(f)Salary paid by cheque Rs20,000.​

Answer 1

Answer:

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