DATE:
UL.
Mohit has the following transaction
prepare Accounting Equations
1 Buginese started with Cash 100,000
2 Purchased office furniture for 10000
3 cash withdrawn for personal use 20,000
4. Commission received in advance 8000
5 Rent paid 12,000
6 Sold goods for Cash 10,000
please answer
Answers
Answer:
DATE:
UL.
Mohit has the following transaction
prepare Accounting Equations
1 Buginese started with Cash 100,000
2 Purchased office furniture for 10000
3 cash withdrawn for personal use 20,000
4. Commission received in advance 8000
5 Rent paid 12,000
6 Sold goods for Cash 10,000
please answer
Answer:
transaction. lf assets =liability+capital
cash+fur+goods= adv. com.
1. started business = 100,000 = 0 + 100,000
with cash
2. purchased. = 0 + 10,000 =. 0+. 10,000
furniture.
NEW EQUATION = 100,000 + 10,000 = 0+110,000
3. cash withdraw = -20,000 + 0 = 0 - 20,000
NEW EQUATION = 80,000+10,000= 0 + 90,000
4. receive comm. = +8,000 + 0 = 8,000 + 0
advance.
NEW EQUATION= 88,000+10,000=8,000+ 90,000
5. paid rent =. -12,000 + 0 = 0 - 12,000
NEW EQUATION= 76,000+10,000= 8,000+ 78,000
6. sold goods = -10,000+ 0 +10,000 = 0 + 0
for cash.
NEW EQUATION=66,000+10,000+10,000=8,000+78,000
86,000 = 86,000
Step-by-step explanation:
IF BOTH SIDES ARE SAME THEN ANS. IS CORRECT.