Question

4. Prepare an Accounting Equation from the following:
a. Started business with Cash `50,000.
b. Paid Salary ` 5,000.
c. Rent Outstanding `.1,000.
d. Accrued Interest `.1,500
e. Interest on Capital Rs.2, 500.
f. Bought goods for cash `.30,000 and on Credit for `.50,000.
g. Goods costing `10,000 sold at a profit of 25%, out of which ` 7,000 received in cash.
h. Purchased a Television for personal use ` 2, 500.

Answer 1

Answer:

Show the effect of the following transactions on the Accounting Equation: (i) Started business with cash ₹ 50,000. (ii) Salaries paid ...