Prepare accounting equation and balance sheet of rohan from the following transaction. 1. He started business with cash rupee 400000 goods rupee 80000 and furniture rupee 20000. 2. He parched stationery for rupee 2000 .
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Explanation:
Based on the Accounting Equation, effect of the following items on the Accounting Equation is as follows:
Transaction
Assets = Liabilities + Capital
Cash Goods Furniture Liabilities Capital
1. Started business with Cash 80,000
+80000
+80,000
2. Purchased goods 70,000 on credit +70,000 +70,000
3. Withdrew cash for personal use 20,000
-20,000 -20,000
4. Furniture purchased in cash for 15,000
-15,000 +15,000
5. Salaries paid 3,000 in cash
-3,000 -3000
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Answer:
nojnonnfs
Explanation:
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