Prepare Accounting Equation of following: 2
1. Sohan started business with Cash Rs. 1,00,000.
2. Sohan Purchased goods on Credit Rs. 5,000.
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Answer:
assets = liabilities + capital
cash + stock = creditors + capital
1) 100000 + 0 = 0 + 100000
2) 0 + 5000 = 5000 + 0
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100000 + 5000 = 5000+ 100000
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