Question

34
4.
Show the accounting equation on the basis of the following transactions
1. Mohan commenced business with cash Rs.70000.
2. Purchased goods on credit Rs.14000.
3. Withdrew cash for private use Rs. 1700.
4. Goods purchased for cash Rs.10000.
5. Paid wages Rs.300.
6. Cash paid to creditors Rs.10000.
7. Sold goods (cost Rs.12000) on credit Rs.15000.
8. Sold goods (cost Rs.3000) for cash Rs.4500.
9. Purchased Furniture Rs.500​

Answer 1

Answer:

53,000

Explanation:

((70,000-14,000) -1,700 ) -10,000) -300) -10,000) +15,000+4500-500

53,000