Question

· Arvind has the following transactions. Use accounting equation to show their effort on his assets, liabilities and capital : (i) Invested F 15,000 in cash; (ii) Purchased securities for cash 7 7,500; (iii) Purchased a home for $ 15,000; giving + 5,000 in cash and the balance through loan; (iv) Sold securities costing 1,000 for 1,500; ₹ (v) Purchased an old car for 2,800 cash; (vi) Received cash as salary 3,600; (vii) Paid cash 7500 for loan and + 300 for interest; (viii) Paid cash for household expenses 7 300; (ix) Received cash for dividend on securities 200. [Ans. Assets + 28,200; Liabilities # 9,500; Capital 7 18,700.)

Answer 1

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