Question

Liabilities Salary Outstanding
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13. Raghunath had the following transactions in an accounting year
Commenced business with cash 50,000
D) Paid into bank 7 10,000
) Purchased goods for cash 30,000 and credit 130.000
a) Sold goods for cash 40.000 costing 130.000
(0) Rent paid 7 500
(n) Rent outstanding 100
d) Bought furniture 3.000 an credit
(ii) Bought refrigerator for personal use? 3.000
(ix) Purchased motorcycle for cash 30.000
Create an Accounting Equation to show the effect of the above and also sho
ACN Bankt 10
Furniture 5.000 Motorcycle 20.000 habili
Outstanding Rent 100 Vendor for Furniture 3.000​

Answer 1

Answer:

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