Question

. Discuss and analyse the following transactions for X Ltd, using the concept of accounting equation (Assets, Liabilities and Equites)

1. Purchased furniture for Rs. 675000

2. Capital Introduced by the business Owner by depositing 12 Lakhs in the bank

account

3. Goods purchased on credit from Aman Enterprises for Rs. 105000

4. Goods sold on credit for Rs. 400000. The cost of the goods sold was Rs. 300000

5. Purchased goods from Sneha Enterprises for Rs. 600000 and made the payment

from the business's bank account

Answer 1

Answer:

Purchased furniture for Rs. 675000

2. Capital Introduced by the business Owner by depositing 12 Lakhs in the bank

account

3. Goods purchased on credit from Aman Enterprises for Rs. 105000

4. Goods sold on credit for Rs. 400000. The cost of the goods sold was Rs. 300000

5. Purchased goods from Sneha Enterprises for Rs. 600000 and made the payment

Answer 2

Explanation:

(1) purchased furniture for rs. 675000. (2) capital introduced by the business owner by depositing 12 laks in the bank account. (3) goods purchased on credit from Aman enterprises for RS. 105000. (4) goods sold on credit for rs. 400000. the cost of the goods sold was rs.300000.(5) purchased goods from sneha enterprises for rs.600000 and made the payment from the business bank account.