Question

I'LL GIVE 100 POINTS AND MARK THE BRAINLIEST
Q4. Show the accounting equation on the basis of the following transactions and prepare Balance Sheet for the final equation:
1 Udit started business with:
(a) Cash - Rs. 5,00,000
(b) Goods - Rs 1,00,000

2 Purchased building for cash - Rs 2,00,000

3 Purchases goods for Arora - Rs 50,000

4 Insurance Premium Paid in Advance - Rs 6,000

5 Rent Outstanding - Rs 5,000

6 Depreciation on building @ 4% - Rs 8,000

7 Cash withdrawn for personal use - Rs 20,000

8 Rent received in advance- Rs 5,000

Answer 1

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