Prove Accounting Equation with the help of following transactions
1. Commenced business with cash Rs.10,00,000;Building Rs.1,00,000; Stock Rs.110,000.
2. Purchased furniture for cash Rs.1,50,000
3. Deposited Rs.2,00,000 into bank
4. 1/5th of the stock was sold at 10% profit for cash.
5. Interest on capital @10%.
6. Wages Paid Rs.15000 & outstanding Rs.1400
7. Prepaid Insurance Rs.8000
8. Paid rent Rs.60,000. 1/3rd of building is used for residential purpose.
9. Received commission Rs.4000 out of which Rs.1000 was received in advance.
10. Purchased motor car for personal use Rs.40,000.
11. Withdrew cash Rs.15,000 for personal use.
12. Withdrew from bank for office use Rs.25,000.
13. Purchased goods on credit Rs.3,50,000
14. Paid creditor Rs.3,45,000 in full settlement of the claim.
15. Sold goods costing Rs.2,50,000 to Ali for Rs.2,20,000.
16. Received from Ali Rs.2,00,000 in full settlement of the claim
17. Interest on drawings Rs.15,000
18. Interest on investment Rs.35,000 is accrued.
19. Salary paid Rs.6,000
20. Depreciation on Building @10% & on furniture @5%
pls help
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