Question

Capit
3. Develop the accounting equation from the following transactions:
(i) Kumar started business with cash Rs. 50,000
(ii) goods purchased for cash Rs. 13,000
(iii) goods purchased on credit Rs. 12.000
(iv) goods sold (costing Rs. 10,000) for Rs. 12,000
(v) furniture purchased on credit Rs. 2,000
(vi) cash paid to a creditor Rs. 5,000
(vii) Rent outstanding Rs. 1,000​

Answer 1

Answer:

asset=liabilities +capital

50000=0+50000