PAGE No
DATE:
1
s(a) Show the effect of the following
tronsactions on the Accounting equation:
i Started business with cash 250,000.
sin salaries baid 2 20000
o Woges outstonding & 200
in Interest due but not paid & 1000
(vRent preid is other advanced. 7 150.
Answers
Answered by
1
Answer:
Assets
=
Liabilities
+
Capital
Cash
(Rs)
+
Bank
(Rs)
+
Stock
(Rs)
=
Creditors
(Rs)
(Rs)
(i)
Started business with cash
45,000
=
45,000
45,000
=
45,000
(ii)
Opened a Bank Account with a deposit
– 4,500
+
4,500
=
40,500
+
4,500
=
45,000
(iii)
Bought goods from M/s. Sun & Co.
11,200
=
11,200
40,500
+
4,500
+
11,200
=
11,200
+
45,000
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