Question

. Give Accounting equation for following transaction. 1) Commenced business with cash * 8000 2) Purchased goods from Mr. Sahil * 30,000 3) Sold goods * 10,000 for cash 4) Paid Electricity bill * 1,5000​

Answer 1

Explanation:

Assets=. Liabilities+Capital

Cash=. Capital

8000. 8000

Cash+ goods. Creditors+Capital

8000+30000. 30000+ 8000

Cash+goods. Creditors+Capital

(8000+10000)+(30000-10000).

18000+20000. 30000+8000

Cash+goods. Creditors+Creditors

(18000-15000)+20000. 30000+8000-15000

3000+20000.

23000. 23000