Question

Illustration 1.
Show Accounting Equation on the basis of the following transactions:
1. Sunil started business with cash 1,00,000.
2. Purchased goods in cash 50,000.
3. Purchased furniture from M/s Samrat Furnitures * 20,000.
4. Sold goods costing 25,000 for 35,000 against cash.
5. M/s Samrat Furnitures was paid in cash.

Answer 1

Answer:

2,30,000

Explanation:

1,00,000+50,000+20,000+25,000+35,000=2,30,000