Question

Analyse the effect of each transaction and prove that the accounting equation (A = L + C)

always remains balanced. (6)

(i) Introduced Rs 4,00,000 as cash and Rs 25,000 by stock.

(ii)Deposited Rs 3,00,000 into the bank.

(iii)Purchased office furniture for Rs 50,000 and made payment by cheque.

(iv) Purchased goods worth Rs 40,000 for cash and for Rs 17,500 on credit.

(v) Goods amounting to Rs 22,500 was sold for Rs 30,000 on cash basis.

(vi) Withdrawn by owner for personal use Rs 12,500​

Answer 1

Answer:

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