Question

Basts, Accounting System do
16. Show the accounting equations on the basis of the following transactions and prepare
the Balance Sheet at the end
(a) Sri Ram commenced business with 50,000
(b) Paid rent in advance ? 2,000.
(e) Purchased a typewriter for 7 7,000.
(d) Bought furniture from M/s Mohan Furnitures on credit * 3,000.
(e) Purchased goods from Sohan for cash * 35,000,
(0) Sold goods to Shyam for cash 7 40,000 (costing * 30,000)
( Bought goods from Ramesh for Y 30,000.
(h) Sold goods to Shyam costing 30,000 for 750,000
0 Purchased household goods for * 15,000 giving > 5,000 in cash and balance through a
loan
0) Goods destroyed by fire (cost * 500, sale price 7 600).
(k) Paid half the amount owed to Mohan Furnitures.
() Paid cash 7 500 for loan and Y 300 for interest
(m) Withdrew goods for personal use (cost 7 500, sale price 600).
(n) Received 7 49,500 from Shyam in full settlement
(o) Paid > 29,700 to Ramesh in full settlement,
(p) Paid salary 7 500 and salary outstanding 100.
(9) Charged depreciation of 300 on furniture and 100 on typewriter.
[Ans. Assets * 73,600, Liabilities 11,100, Capital 62,500)​

Answer 1

Answer:

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