Question

Prepare accounting equation for the following -
(a) Started business with cash I 75,000 and goods & 25,000.
(b) Paid for rent I 2,000.
(c) Bought goods for cash I 30,000 and on credit I 44,000
(d) Goods costing I 50,000 sold at a profit of 25% out of
which I 27,500 received on cash.
(e) Purchased a Motor Cycle for personal use I 20,000.
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Answer 1

Answer:

27.500 recelved on cash