Question

Illustration 2.1. Anil had the following transactions. Use accounting equation to show their
effect on his assets. liabilities and capital:
5.000
100
50
20
I Started business with cash
2 Purchased goods on credit
3. Purchased goods for cash
4. Purchased furniture
5. Withdrew for personal use
& Paid rent
7 Received Interest
& Sold goods costing 50 on credit for
9. Paid to creditors
10. Paid for salanes
11. Further capital invested
12. Borrowed from P
10
1.000
1.000​

Answer 1

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