Due to the following transactions, the total of accounting equation will be: i. Commenced business with cash Rs. ii. Purchased goods for cash Rs. 2,00,000 iii. Goods costing Rs. 1, 50,000 sold for Rs. 1, 60,000 on credit. Answer: A. Rs. 4, 60,000 B. Rs. 7, 10,000 000 C. Rs. 5, 10,000 D. Rs. 6, 60,000
Answers
Answered by
0
Answer:
S. No.
Transactions
Assets
=
Liabilities
+
Capital
Cash
(Rs)
+
Bank
(Rs)
+
Stock
(Rs)
=
Creditors
(Rs)
(Rs)
(i)
Started business with cash
45,000
=
45,000
45,000
=
45,000
(ii)
Opened a Bank Account with a deposit
– 4,500
+
4,500
=
40,500
+
4,500
=
45,000
(iii)
Bought goods from M/s. Sun & Co.
Total Assets
=
Cash + Bank + Stock
=
40,500 + 4,500 + 11,200
=
Rs
56,200
Liabilities
=
11,200
Capital
=
45,000
Similar questions