Question

Prepare Accounting Equation from the following :-1. Started business with cash 75,000 and goods 25,000.2. Paid for Rent 2,000.- Bought goods for cash 30,000 and on credit for 44,000.- Goods costing 50,000 sold at a profit of 25%, out of which 27,500 received in Cash.Purchased a Motor-cycle for personal use 20,000​

Answer 1

Answer:

Assets : Cash Rs. 50,00 + Stock Rs. 49,000 + Debtors Rs. 35,000 = Liabilities : Creditors Rs. 44,000 + Capital Rs. 90,500.

Explanation:

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