Question

7. Show the effect of following transactions on the accounting equation
(i) Bhupinder commenced business with cash 65,000 and stock 35,000.
(ii) Purchased goods on credit 14,000.
(ii) Sold goods (costing 15,500) for 12,500 on credit.
(iv) Returned goods to supplier 4,000.
(v) Cash paid to supplier 5,500.
(vi) Goods returned by a customer 3,000 (Cost * 2,800).
(vii) Cash received from a customer * 4,500.​

Answer 1

Answer:

Returned goods to supplier 4,000.

(v) C

Returned goods to supplier 4,000.

(v) C