Question

5. Show the effect of following transactions on the accounting equations
(i) Imran commenced business with cash 1,20,000.
(ii) Purchased goods on credit 20,000.
(iii) Purchased machinery for 18,000.
(iv) Sold goods (costing 11,000) for 13,000.
(v) Sold machinery (costing 15,000) for 14,500.
(vi) Cash paid to creditors 17,000.
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Answer 1

Explanation:

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