Question

accounting equation 1. Commenced business with cash rs. 220000.
2. purchased goods for cash 25000 and on credit 12000.
3. sold goods for cash 30000(costing 20000).
4. rent paid 10000 and rent outstanding1200.

Answer 1

Answer:

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particular/ transaction. Assets. = Liability. + capital

(cash). +. (stock)

1. commenced business. 2,20,000 = 0. + 2,20,000

with cash

2. purchase goods for. -25,000. + 37,000 = 12000. +. 0

cash 25000 and on credit.

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NEW EQUATION. 1,95,000 + 37,000 = 12,000. +. 2,20,000

3. sold goods for

cash 30,000(costing. 30,000. + - 20,000. =. 0. +. 10,000

20,000)

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NEW EQUATION. 2,25,000. + 17,000. =. 12,000. +. 2,30,000

4. rent paid 10,000. -10,000. + 0. =. 1200. +. - 11,200

and rent o/s 1200

___________________________________________________________________ NEW EQUATION. 2,15,000. + 17,000. =. 13,200. +. 2,18,800

CHECK. " Assets = Liability+ capital"

2,15,000+17,000= 13,200+2,18,800

2,32,000= 2,32,000

I hope ☺️ it will help you