Question

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(5)
7. Use Accounting Equation to show the effect of following transactions
on assets, liabilities and capital and also show the Balance sheet.
a) Ram started business with cash of Rs. 1,80,000, goods Rs.
50,000, Debtors Rs. 10,000, Furniture Rs. 10,000 and
Creditors Rs. 20,000.
b) Goods costing Rs. 6,000 sold to Amit at loss of 10%, out of
which Rs. 2,000 received in cash.
c) Cash deposited into bank Rs. 20,000.
d) Rent outstanding Rs.5,000.
c) Received cheque from Amit Rs. 3,200 in full settlement of Rs.
3,400. Cheque deposited on the same date.
f) Insurance paid in advance Rs. 1,000
g) Paid to creditors Rs. 18,000 in full settlement of
h) Depreciate Furniture @ 10%

Answer 1

Answer:

ram started business with cash of rs