Question

Prepare Accounting Equation on the basis of the following transactions :
(i) Govind started business with :
Cash 70,000
Machine 50,000
(ii) Purchased goods on credit 32,000
(iii) Payment made to creditors in full settlement 30,400
(iv) Interest on drawings 600
(v) Depreciation on machinery 5,000
​

Answer 1

Answer:

cash me add

and capital me add

machine me add

and cash me se less

stock me add

and liability me add.