Question

Amar commenced business with a capital of Rs. 75,000 on 1st April 2006. The various transactions
that took place during the year were as follows:- (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 2,000
Prepare an accounting equation to give effect to the above transactions.

Answer 1

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Answer 2

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