Question

Prepare an Accounting Equation and Balance Sheet on the following basis:
(1) Ajeet started business with cash 20,000.
(ii) He purchased furniture for * 2,000.
(ii) He paid rent of 200.
(iv) He purchased goods on credit * 3,000.
(U) He sold goods (cost price 2,000) for 5,000 on cash.
[Assets: Cash 22,800 + Furniture 2,000 + Stock * 1,000 =
Liabilities: Creditors 3,000 + Capital: 22,800.]​

Answer 1

Answer:

correct answer is the 280.