Question

Prepare an accounting equation;-(i) Started business with cash 90,000 and goods 60,000.(ii) 1/4th of the above goods sold at a profit of 10% on cost and half of the payment is received in cash.(iii) Paid rent 8,000 including 3,000 in advance (iv)Allowed interest on capital 500 .Give the final balance( cash ? stock? debtors?.........)​

Answer 1

Answer:

cash

goods

to capital..................