Question

Prepare accounting equation for the following:-
Sandeep started business with cash 100000
He purchased furniture for cash 5000
He purchased goods for cash rupees 20000
He purchased goods on credit for 36000
Prepaid rent for 700
Goods costing 40000 sold at a profit of 20% for cash

Ans: cash 122300
Furniture 5000
Stock 16000
Liabilities: creditors 36000
Capital 107300

Answer 1

Question:

Prepare accounting equation for the following:-

• Sandeep started business with cash 100000
• He purchased furniture for cash 5000
• He purchased goods for cash rupees 20000
• He purchased goods on credit for 36000
• Prepaid rent for 700
• Goods costing 40000 sold at a profit of 20% for cash

Solution:

Please refer to the attachment above (:

$\huge \bold{@Maybelline}$

Answer 2

that the answer for your questions. I don't know balance sheet