Question

(A). Prepare Accounting Equation from the following :-
1. Started business with cash 75,000 and goods 25,000
2. Paid for Rent 72,000.
3. Bought goods for cash 30,000 and on credit for 144,000.
4. Goods costing 50,000 sold at a profit of 25%, out of which *27,500 received
5. Purchased a Motor-cycle for personal use 20,000,​

Answer 1

Answer:

following:-

(₹)

1.

Sandeep started business with Cash

1,00,000

2. Purchased furniture for cash 5,000

3. Purchased goods for cash 20,000

4. Purchased goods on credit 36,000

5. Paid for rent 700

6.

Goods costing ₹ 40,000 sold at a profit of 20% for cash