Question

Accounting equations class 11
Siddhartha started business with cash150000 goods120000 furniture 50000 machinery 100000
1/4 of the above goods sold at a profit of 20% on cost. Half the payment recieved in cash
Paid rent 4000 including 3000 in adv
Bought motorcycle for personal 6000
Purchased goods for cash 4000 and credit 3000
Purchased building from ram 100000

Answer 1

Answer:

ASSETS = LIABILITIES+ CAPITAL

CASH+GOODS+FURNITURE+MACHINERY+MOTOR CYCLE+BUILDING+PREPAID RENT+DEBTORS= CREDITORS + RAM+ CAPITAL

1. 150000+120000+50000+100000+0+0+0+0+=0+0+420000

2.18000+(30000)+0+0+0+0+18000=0+0+6000

3.(4000)+0+0+0+0+0+3000=0+0+(1000)

4. (6000)+0+0+0+0+0+0+0+0=0+0+(6000)

5. (4000)+7000+0+0+0+0+0+0=3000+0+0

6. 0+0+0+0+0+0+100000=0+100000+0

Explanation:

ALL TRANSACTIONS DONE SEPATRELY , U HAVE TO CALCULATE THE FIGURES , THE BRACKTS AMOUNTS MEANS IT SHOULD BE MINUS

Explanation: