please make an accounting equation..
1.Manu started business with cash.1,00,000Opened a Bank Account and transferred ` 4,00,000 from his Savings Account.
2.Purchased a building from Sohan for ` 12,00,000 paid by taking a loan from SBI.10,00,000
3.Paid interest on loan ` 20,000 and instalment of ` 1,00,000
.4.Purchased goods from Rohan on credit.1,00,000
5.Goods returned to Rohan costing20,000
6.Sold goods costing ` 40,000 for ` 50,000 on credit to Ram.
7.Took goods from business for personal use.10,000
8.Accrued interest.5,000
9.Commission received in advance.20,000
10.Cash received from Ram.10,000
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Answer:
Total Assets
=
Capital - Loss + Liabilities
=
Rs.3,00,000 - Rs.70,000 + Rs.50,000
=
Rs.2,80,000
Total Assets of the business is Rs.2,80,000
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