Question

7.
Show the effect of the following transactions on Assets, Liabilities and
Capital through accounting equation:
(a) Started business with cash
Rs. 1,20,000
(b) Rent received
Rs. 10,000
(c) Invested in shares
Rs. 50,000
(d) Received dividend
Rs. 5,000
(e) Purchase goods on credit from Ragani
Rs. 35,000
(f) Paid cash for house hold Expenses
Rs. 7,000
(g) Sold goods for cash (costing Rs.10,000)
Rs. 14,000
(h) Cash paid to Ragani
Rs. 35,000
(i) Deposited into bank
Rs. 20,000​

Answer 1

Answer:

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