Amar commenced business with a capital of rs. 75,000 on 1stapril 2006. The various transactions that took place during the year were asfollows:-(i)purchased machinery worth rs.7,000 for office use.(ii)bought machinery for rs.10,000.(iii)purchased goods from jitinder for rs.5,000.(iv)purchased goods from hari in cash rs.8,000.(v)sold goods (costing rs.4,000) at a profit of 25% on cost.(vi)withdrew cash for private use rs.2,000.(vii)deposited into bank account rs.1,000.(viii)expenses paid rs 2,000prepare an accounting equation to give effect to the above transactions.
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Answer:
Assets=Capital+Liabilities
Explanation:
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