Question

prepare accounting equation on the basis of the following:

a. Harish started business with cash ₹ 200000

b. purchased goods from Naman for cash ₹140,000

c. sold goods to Bhanu costing ₹ 10000​

Answer 1

Explanation:

Asset =liability+capital.

2,00,000=60,000+1,30,000+10,000.

Answer 2

Answer:

Asset =liability+capital.

2,00,000 = 60,000 + 1,30,000 + 10,000.

Step by step answer:

The accounting equation states that the total assets of a company are equal to the sum of its liabilities and equity of shareholders. This straightforward relationship between assets, liabilities, and equity is considered to be the basis of a double-digit calculation system.