Question

Prepare Accounting Equation from the following transaction:

1. Mohan started business with cash Rs. 200000.

2. Purchased goods in cash Rs. 80000.

3. Purchased furniture from M/s Shyam Rs. 50000.

4. Sold goods costing Rs. 30000 for Rs. 45000.
5. with due cash for personal rs. 500 6.rent paid rs 1000​

Answer 1

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Answer 2

Accounting equation= Asset+ equity

Accounting equation= tarted business with cash+ Purchased goods in cash+ Purchased furniture+ Sold goods + due cash+ rent paid

Accounting equation= ( 2,00,000+ 80,000+ 50,000+ 45,000)+ (500+1000)

= 2,75,000+ 1500

=2,76,500

Accounting equation= 2,76,500