Question

Mr ranga started a real estate agency business with a cash investment of
35,000. The following business transactions have been recorded:
ta) Paid three months advance rent for office accommodation 3 2,100.
(b) Bought car for office 21,000.
(c) Purchased office furniture 7,000.
(d) Bought office typewriter from Standard Supply Company 3,000.
(e) Sold extra office furniture at cost to Amar for 1,000. Amar paid 600 in
cash and accepted a bill at three months for the balance.
(f) Amar paid the amount of the bill at maturity and Mr Universe paid half the
amount he owed to Standard Supply Company.
(g) Collected 6,000 as commission.
(h) Paid telephone bill amounting to 150.
Use the following headings in a tabular form and work out the effects of the
foregoing transactions on the equity of Mr Universe through the accounting
equation.
Cash + B/R + Prepaid rent + Office Car + Office equipment = Standard Supply
Co. + Owner's equity.
(See Solution on page 7.17).

Answer 1

Answer:

such a big question can't type!! sorry