Question

Prepare Accounting Equation on the basis of the following:

(a) Harsha started business with cash Rs 2,00,000

(b) Purchased goods from Naman for cash Rs 40,000

(c) Sold goods to Bhanu (costing Rs 10,000) Rs 12,000

(d) Bought furniture on credit Rs 7,000​

Answer 1

Answer:

cash 160000

stock 30000

debtors 12000

furniture 7000

now liability

creditors 7000 and capital 202000