Question

prepare accounting equation from the following (a) Nisar started business with cash Rs 50,000 & Furniture Rs 6,000. (b) Purchase goods on credit Rs 7,000. (c) Sold goods (costing Rs 3,000) for Rs 4,000. (d) Wages paid Rs 2,000. (e) Rent outstanding Rs 500. (f) Commission prepaid Rs 1,200​

Answer 1

Assets. = Liability+Capital

cash+furniture+stock+wages+=cash+furniture+

rent+commission. stock+wages+rent

50000.+6000+7000+(1000)- = +commission

3000+2000+500+1200 50000+6000+

5000+2000+500

+1200

=64700. =64700