Question

Prepare accounting equations of Mukesh on the basic of following transaction& prepare balance sheet:
a) commenced business with cash 1,00,000
b) Cash deposited in bank Rs 60,000
c) Bought goods from X for Rs 20,000 & paid Rs 5,000 immediately
d) paid wages Rs 6,000 & outstanding wages Rs 1,000
e) Borrowed loan from bank Rs 15,000
f) Returned goods to X being defective nRs 1,000
g) sold goods for Rs 20,000 for cost which costs Rs 15,000

Answer 1

Answer:

cash deposite at bank rs 60000