Question

GRADE - XI ACCOUNTANCY
ACCOUNTING EQUATION
Student's Name:
Date:
1. Habib Ullah Sadiq is wholesale trader, following transactions are record in Accounting
Equation?
i. Commence business with cash Rs. 200,000 and Land Rs. 50,000.
ii. Bought merchandising for cash Rs. 80,000.
il Cash sales of worth Rs. 25,000.
iv. Bought goods on credit from Salman of worth Rs. 50,000.
V. Sales on account to Ali Razz RS 12.000.
vi. Purchase furniture of the value of Rs. 5,000 by cash
vil. Received cash form Ali Raza of Rs. 10.000.
vill. Retum defective furniture of worth Rs. 1.500.
xi. Paid wages Rs. 1.000, Rent 2.000 and Electricity Bill Payable Rs. 1.500.

Answer 1

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option viii is the correct answer