Question

Bhavin Patel is wholesale trader. Give Accounting Equation by the help of
following transaction?
1) Commence business with cash Rs. 200,000 and Land Rs. 50,000
2) Bought merchandising for cash Rs. 80,000.
3) Cash sales of worth Rs. 25,000
4) Bought goods on credit from Salman of worth Rs. 50,000.
5) Sales on account to Ali Raza Rs. 12,000.
6) Purchase furniture of the value of Rs. 5,000 by cash.
7) Return defective furniture of worth Rs. 1,500
8) Paid wages Rs. 1,000, Rent 2,000 and Electricity Bill Payable Rs.
1.500​

Answer 1

Bhavin Patel is wholesale trader. Give Accounting Equation by the help of

following transaction?

1) Commence business with cash Rs. 200,000 and Land Rs. 50,000

2) Bought merchandising for cash Rs. 80,000.

3) Cash sales of worth Rs. 25,000

4) Bought goods on credit from Salman of worth Rs. 50,000.

5) Sales on account to Ali Raza Rs. 12,000.

6) Purchase furniture of the value of Rs. 5,000 by cash.

7) Return defective furniture of worth Rs. 1,500

8) Paid wages Rs. 1,000, Rent 2,000 and Electricity Bill Payable Rs.

1.500