Question

Illustration 2 Show the Accounting Equation on the basis of the following transaction and present a Balance Sheet on the Supama and Shyamasree entered into partnership. They contributed ? 1,00,000 and 280,000 as capitai basis of last new equation balances. respectively. Other transactions were as under: Gold purchased by them () Wages paid to workers (n) Ornaments sold (costing * 50,000) (in) Omaments sold on credit (costing 10,000) (0) Amount received from debtors Discount allowed (vi) Gold purchased on credit (vi) Ornaments purchased (viii) Payment to creditor in full settlement (ix) Amount withdrawn Suparna Shyamasree 60,000 25,000 70,000 15,000 14,700 300 8.000 6,000 7,800 6,000 5,000​

Answer 1

Answer:

Illustration 2 Show the Accounting Equation on the basis of the following transaction and present a Balance Sheet on the Supama and Shyamasree entered into partnership. They contributed ? 1,00,000 and 280,000 as capitai basis of last new equation balances. respectively. Other transactions were as under: Gold purchased by them () Wages paid to workers (n) Ornaments sold (costing * 50,000) (in) Omaments sold on credit (costing 10,000) (0) Amount received from debtors Discount allowed (vi) Gold purchased on credit (vi) Ornaments purchased (viii) Payment to creditor in full settlement (ix) Amount withdrawn Suparna Shyamasree 60,000 25,000 70,000 15,000 14,700 300 8.000 6,000 7,800 6,000 5,000