Question

5.
Create an accounting equation on the basis of the following transactions
(1) Rakesh started business with a capital of 1.50,000
() Deposited money with the bank 80,000
(1) Purchased goods from Mahesh and paid through credit card 35.00
(iv) Sold goods (costing10,000) to Mohan for 14.000 who pays through
(v) Commission received by cheque and deposited the same in the bank
(vi) Paid office rent through ECS 76.000
(vii) Sold goods to Raman for 15.000 of which 5.000 was received​

Answer 1

Explanation:

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Answer 2

Assets = Capital + Liabilities

75000+0+90000+1000 =150000+25000