Question

9] Prepare accounting equation.
[6]
i) Kapil started business with cash 30,000 stock 20,000 And Furniture *
10,000
ü] Sold half of the above goods at a profit of 20%. 75% of the amount received in
cash immediately.
iii] Purchased goods for 20,000 from Shashank. Half the payment made in cash.
iv] Paid rent 5000 out of 7000 for the month.
v] Charge depreciation on furniture 500.
vi] Purchased furniture for the proprietor 5,000

Answer 1

10+10+10=30

10+10+10+10=40