Give the accounting equation for the following transactions.
1. Mr. vaibhav started business with cash rs 1,10,000.
2. purchased furniture on credit from S.M Furniture mart rs 25,000.
3. Bought goods on credit from yuvraj rs 15,000.
4. purchased machinery rs 10,000.
5. paid electricity bill rs 3,500.
6. Goods destroyed by fire rs 1,500.
Answers
Answer:Assets. = liabilities +capital
cash+furniture+stock+machinery=S.M fur.+Yuvraj+capital
110000.+ 0 +110000 + 25000. +25000 +15000. +15000 (10000) +10000 (3500) (3500) (1500) (1500) 95000+25000+15000+10000 = 40000 + 105000 145000 =40000+105000
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Answer:
Mr. vaibhav started business with cash rs 1,10,000.