Question

JA. Prove that the Accounting Equation is satisfied in all the following transactions of Suresh.
Also prepare a Balance Sheet.
(i) Commenced business with cash * 60,000.
(ii) Paid rent in advance 500.
(iii) Purchased goods for cash 30,000 and credit 20,000.
(iv) Sold goods for cash 30,000 costing 20,000.
(v) Paid salary 500 and salary outstanding being 100
(vi) Bought motorcycle for personal use 5,000.6​

Answer 1

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