Question

Cash+ Stock & Debt
2. Prove that the Accounting Equation is satisfied in all the following transactions of Nitesh;
(i) Statarted business with cash 50,000 and goods 20,000.
(ii) Bought goods for cash 15,000 and on credit for 10,000.
(iii) Goods costing 24,000 sold at a profit of 33%. Half the payment received in cash.
(iv) Purchased furniture for office use 5,000 and for household use of Nitesh 3,000.
[Ans. Assets : Cash 43,000 + Stock 21,000 + Debtors 16,000 + Furniture * 5,000
= Liabilities : Creditors 10,000 + Capital 75,000]
mounting Fouation on the basis of the following transactions
₹​

Answer 1

Answer:

you are a plus one student