Question

8. Rishita had the following transactions. Use accounting equation to show the effect of
following transactions on Assets, Liabilities and Capital. :
Hy
50,000
(a) Rishita started business with Cash
60,000
(b) Purchase goods for Cash * 25,000 and on Credit * 35,000
(c) Purchased Furniture
3,500
(d) Paid Rent
500
(e) Sold goods for Cash 50,000, costing
40,000
(f) Paid Salaries
1,000
(g) Received Interest
1,500
(h) Withdrew for private use
3,000
(i) Paid to Creditors
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Answer 1

Answer:

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