Ans: Assets: 497650; Capital: 397650; liabilities: 100000
.
You are given the following transactions:
1. started business with bank Rs.300000 and machinery Ras Rs.100000
2. purchased goods for RS.100000 from shrijal
3. cash sales Rs 10000
4. goods costing Rs.10000 veg sold for Rs.8500 to sita
5. received cash Rs.7650 after deducting discount @10%
6. cash withdrew from Bank Rs. 50000
Required: Accounting equation
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S. No.
Transactions
Assets
=
Liabilities
+
Capital
Cash
(Rs)
+
Bank
(Rs)
+
Stock
(Rs)
=
Creditors
(Rs)
(Rs)
(i)
Started business with cash
45,000
=
45,000
45,000
=
45,000
(ii)
Opened a Bank Account with a deposit
– 4,500
+
4,500
=
40,500
+
4,500
=
45,000
(iii)
Bought goods from M/s. Sun & Co.
11,200
=
11,200
40,500
+
4,500
+
11,200
=
11,200
+
45,000
Total Assets
=
Cash + Bank + Stock
=
40,500 + 4,500 + 11,200
=
Rs
56,200
Liabilities
=
11,200
Capital
=
45,000
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