Question

5. Use Accounting Equation to show the effect of the followingtransactions of Ravi Traders.Started business with cash 1,00,000b. Bought goods for cash Rs, 20,000c. Rent received Rs. 5,000d. Salary outstanding Rs. 10,000e Goods destroyed by fire Rs. 13,000f. Paid for charity Rs 200​

Answer 1

Answer:

1 -- cash (+)100000 capital (+)100000

2-- goods create new colum +50000

and decrease cash by 50000

3--add to cash and capital 5000

4--add out.salary in liability with new colum out standing liability and add 10000 and dercarse 10000 from capital

decrease good by 13000 and capital Decreae by 13000

cash and capital decrease 200