Question

Prepare Accounting Equation from the following:
1) Started business with cash 1,00,000 and Goods 20,000.
(ii) Sold goods worth 10,000 for cash 12,000.
(iii) Purchased furniture on credit for * 30,000. ​

Answer 1

Answer:

cash + stock + furniture = capital +creditor

1) 100000+20000 = 120000

2) 12000+(10000) = 2000

3 ) + 30000 = +30000

net value 112000+10000+30000= 122000+30000

152000= 1520000

assts= lib

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