Accountancy, asked by Pranavdhaddha8, 1 month ago

Prepare an accounting equation:

1. ram started business with cash 2,00,000.

2. he purchased computer for 20,000.

3. he paid rent of 2,000.

4. he purchased goods on credit 30,000.

5. he sold goods (cost price 20,000) for 50,000 on cash.

6. purchased goods for cash 30,000.

7. paid to creditor 27,500 in full settlement.

8. sold goods on credit (costing 30,000) 41,000.

9. cash received from debtor 38,000 in full settlement.

please give answer in tabular form​

Answers

Answered by yadavgeeta1125
0

Answer:

1. ram started business with cash 2,00,000.

2. he purchased computer for 20,000.

3. he paid rent of 2,000.

4. he purchased goods on credit 30,000.

5. he sold goods (cost price 20,000) for 50,000 on cash.

6. purchased goods for cash 30,000.

7. paid to creditor 27,500 in full settlement.

8. sold goods on credit (costing 30,000) 41,000.

9. cash received from debtor 38,000 in full settlement.

please give answer in tabular form

Answered by JSP2008
1

1. Commenced business with cash Rs 5,00,000.

Cash as an asset is increased by Rs. 5 Lakh and capital is also increased by Rs. 5 Lakh.

2. Purchased goods for Rs. 25,000. Stock (asset) will increase by Rs. 25,000 and cash (asset) will decrease by Rs. 25,000.

3. Paid Salary Rs. 10,000.

Cash or bank balance will decrease by Rs. 10,000 and capital will decrease (because expenses are deducted from capital) by Rs. 10,000.

4. Sold goods costing Rs. 20,000 at a profit of 25%.

Stock (asset) will decrease by Rs. 20,000 because goods are sold

Cash (asset) will increase by Rs. y =

20,000 + 25% of 20,000

y = 20,000 + 20,000/4 = 20,000 + 5,000

y = Rs. 25,000

Therefore, cash will increase by Rs. 25,000

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