Question

9. Transactions of M/s Vipin Traders are given below.
Show the effects on Assets, Liabilities and Capital with the help of accounting
Equation
(a) Business started with cash
Rs. 1,25,000
(b) Purchased goods for cash
Rs. 50,000
(c) Purchase furniture from R.K. Furniture
Rs. 10.000
(d) Sold goods to Parul Traders (Costing Rs. 7,000 vide
Rs.9,000
bill no. 5674)
(e) Paid cartage
Rs. 100
(f) Cash Paid to R.K. furniture in full settlement
Rs. 9.700
Rs. 12.000
(g) Cash sales (costing Rs.10,000)
Rs. 4,000
(h) Rent received
Rs. 3.000
(1) Cash withdrew for personal use​

Answer 1

Answer:

Transaction

No. Assets = Liabilities Capital Total

Cash Stock of Goods Debtors Furniture Total

1. Harsha started business with cash ₹ 2,00,000

2,00,000 2,00,000

2,00,000 – – – 2,00,000 = – 2,00,000 2,00,000

2. Purchased goods from Naman for cash ₹ 40,000

(40,000) 40,000

1,60,000 40,000 – – 2,00,000 = – 2,00,000 2,00,000

3. Sold goods to Bhanu costing ₹ 10,000/- ₹ 12,000

(10,000) 12,000 2,000

1,60,000 30,000 12,000 – 2,02,000 = – 2,02,000 2,02,000

4. Bought furniture on credit ₹ 7,000

7,000 7,000

1,60,000 30,000 12,000 7,000 2,09,000 = 7,000 2,02,000 2,09,000

Total 2,09,000 = 2,09,000

Thus we’ve Assets = Cash ₹ 1,60,000 + Goods ₹ 30,000 + Debtors ₹ 12,000 + Furniture ₹ 7,000 = ₹ 2,09,000

Liabilities = Creditors ₹ 7,000

Capital = ₹ 2,02,000

Assets ₹ 2,09,000 = Liabilities ₹ 7,000 + Capital ₹ 2,02,000

MARK AS BRAINLIST

Answer 2

Answer:

she is right mark as brainlist