Question

Mohit has following transactions. Prepare Accounting Equation: (a) Business started with cash ₹1,75,000 (b) Purchased goods from Rohit ₹50,000 (c) Sold goods on credit to Manish (costing ₹17,500) ₹20,000 (d) Purchased furniture for office use ₹10,000 (e) Cash paid to Rohit in full settlement ₹48,000 (f) Salary not yet paid ₹5,000 (g) Depreciate Furniture by 10% (h) Goods withdrawn by Mohit for personal use ₹2,000

Answer 1

Answer:

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