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Q.3 Show the effect of the following transactions and also
prepare a Balance Sheet:
(i) Started business with cash Rs. 1,50,000 and Building 2,00,000
(ii) Rent received Rs. 20,000.
(iii) Accrued interest Rs. 25,000.
(iv) Commission received in advance Rs. 10,000.
(v) Amount withdrawn Rs. 15,000.
Answers
Answered by
1
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.
11,200
=
11,200
40,500
+
4,500
+
11,200
=
11,200
+
45,000
Total Assets
=
Cash + Bank + Stock
=
40,500 + 4,500 + 11,200
=
Rs
56,200
Liabilities
=
11,200
Capital
=
45,000
dharmveersingh8750:
thanks
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