Accountancy, asked by sreemathy97gks, 5 months ago

From the following transactions prepare Accounting Equation. (5 marks) I. Sunil started business with cash 25,000 2. Opened a bank account by depositing 10,000. 3. He purchased furniture for Rs. 7000. 4. He paid rent Rs.1000. 5. He sold to Shyam on credit goods costing Rs. 6000 for Rs. 9000​

Answers

Answered by rushikadam10
0

Explanation:

capital = 25000

Asset = Bank + Furniture + debtors

= 10000 + 7000 + 9000

= 26000

liability = rent

= 1000

Accounting equation,

Asset = liability + capital

26000 = 1000 + 25000

26000 = 26000

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