Question

Advance
pical
25. Use Accounting Equation to show the effect of the following transactions of M/s Royal Traders :
3 ₹
(i) Started business with cash
1,20,000
(ii) Purchase Goods for cash
10,000
(ii) Rent received
5,000
(iv) Salary outstanding
2,000
(v) Prepaid Insurance
1,000
(vi) Received interest
700
(vii) Sold Goods for cash (Costing 5,000)
7,000
(viii)Goods destroyed by fire
500
(N.C.E.R.T.)
Stock 7 4509 + Prepaid Insurance * 1,000, Liabilities =
100​

Answer 1

Answer:

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