Question

Prove that accounting equation is satised in all the following transactions

of Khandelwal Enterprises:- [6]

a. Started business with cash ` 20,00,000.

b. Received rent in advance ` 5,00,000.

c. Out of total salary of ` 97,000; only ` 91,000 has been paid and balance

` 6,000 is due to be paid.

d. Bought goods from harish on credit for ` 6,00,000 and from Shubham on

cash ` 4,00,000.

e. Sold goods to Anil for ` 19,00,000 but he paid only ` 9,00,000 in cash and

promised to pay balance ` 10,00,000 after 10 days.

f. Bought a gift for elder son (Prakash) to give him on his rst birthday ` 80,000​

Answer 1

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