7. Use Accounting Equation to show the effect of following transactions on assets, liabilities and capital and also show in the Balance Sheet. ₹ (1) Commenced Business with cash 1,00,000 (ii) Bought goods for cash 15,000 (iii) Bought furniture on credit (iv) Sold goods for cash (cost 10,000) [ Ans : Cash 1,00,000 : Stock 75,000 : Furniture 78,000 : Creditors 8. What will be the effect of 1 8.000 15,000 * 8,000, Capital 7 1,05,000; Total of both sides * 1,13,000 ]
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accounting equation I like accounting
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accounting question I like accounting
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