Question

(i)
5. Prepare an Accounting Equation from the following transactions-
Commenced business with cash 80,000 and goods ? 15,000
Purchased goods for cash 30,000 and credit * 20,000
Goods costing 50,000 were sold for * 60,000
(iv) Withdrew cash för personal use * 10,000
Salary outstanding * 3,000
| Ans. : Cash 1,00,000; Stock 715,000 ; Outstanding Salary 3,000;
Creditors 20,000; Capital 92,000 : Total of both sides 1,15,000 ]
(iii)
(v)​

Answer 1

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