Question

å kumar started business with cash
2,50,000 .Kumar purchase furniture for
os eash Rs 35, 000

paid commission Rs 2,000
Kumar purchase goods on credit 40,000.kumar sold goods costing 20,000 for cost 26,000​

Answer 1

(i) Assets = liability+capital

cash+furniture+stock

2,50,000+ 0+0 = +2,50,000

(ii) (35,000) +35,000 =

new.eq 2,15,000+35,000. = +2,50,000 (iii) (2,000)+ 0 = +(2,000)

new.eq 2,13,000 +35,000. = +2,48,000

(iv) 0 + 0 +40,000= 40,000+0

neweq2,13000+35,000+40,000=40,000+248000

(v) 26,000+ 0 +(20,000) = 0 +6,000

neweq239000+35,000+20000 =40000+254000