Question

Prepare Accounting Equation on the basis of the following:

a. Harish started business with cash ₹2,00,000

b. Purchased goods from Naman for cash ₹1,40,000

c. Sold goods to Bhanu costing ₹10,000​

Answer 1

Answer:

Tip :-

Accounting Equation-

Assets = Owner's Capital  + Liabilities

Explanation:

Assets = Cash + Stock + Debtors = 60,000 + 1,30,000 + 10,000 = 2,00,000

Owners Capital = 2,00,000

Liabilities = 0