Question

Analyzing the transactions, study its effect on the various components of the accounting equation 1. Opened a bank account with ₹ 480000 in State Bank of India. Analysis of the transaction: This transaction resulted in a reduction of ₹ 480000 in another cash. On the other hand bank account (other asset) increased by ₹ 480000. 2. Bought furniture worth ₹ 60,000 for business. He issued a check for payment. Analysis of the transaction: In this transaction the asset called furniture increased by ₹ 60000 and the bank Deficiency of the same amount in the account (asset). 2. I bought a plot and machinery worth ₹ 125000 from Ramjilal by paying an advance amount of ₹ 10000. Sode Analysis: In this transaction, the machinery in the plant for ₹ 125000 has been removed from Ramjilal, in return for which only ₹ 10000 Advance amount has been paid. In this situation there has been an increase of ₹ 125000 in Plant and Machinery (Asset) along with a decrease of ₹ 10000 in cash and an increase of ₹ 115000 on the other side in the equation, the debtor named Ramjilal (Liability).​

Answer 1

Answer:

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