Question

Prepare Accounting equation on the basis of following information:

1. Commenced business with cash Rs.150,000, Goods Rs.60,000 and Machine Rs.20000 bank

Rs.80000

2. One – third of the above goods sold at a profit of 10% on cost, half of the payment received in

cash.

3. Wages paid Rs. 3000 out of which 1/3rd was in advance.

4. Cash withdrawn for personal use Rs. 10,000 and Goods Rs. 8000

5. Charge interest on drawings @ 5%
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Answer 1

Answer:

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