Question

make accounting equations and a balance sheet.
1. Rahul desai started a business with cash Rs50000 and goods Rs25000.
2. Purchased furniture Rs5000
3. paid salaries Rs2000
4. outstanding wages Rs2000
5. prepaid insurance Rs1000
6. rent paid in advance Rs1500
7. commission due but not paid Rs1000
8. goods sold for cash (cost price Rs5000) Rs6000
9. depreciation on furniture Rs500
10. rent received Rs500
11. interest on drawings Rs900​

Answer 1

Answer:

5th and 6th are exchanged