Question

4. Show the effect of following transactions on the accounting equations and
prepare balance sheet at the end :
(i) Surveen commenced business with cash * 60,000 and stock 30,000.
(ii) Purchased goods for cash 30,00 and on credit * 15,000.
(iii) Sold goods (costing 16,000) for 14,000 in cash.
(iv) Sold goods (costing 12,000) for 15,000 on credit.
(v) Goods donated for Leh Ladakh residents * 7,000.
(vi) Goods withdrawn by Surveen for personal use 9,500.​

Answer 1

Answer:

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