Question

Prove that accounting equation is satisfied in all the transactions and also prepare a balance sheet : (1) started business with cash 1,20,000. (2) purchased a typewriter for cash for office use 8,000. (3) purchased goods for cash 50,000.(4) purchased goods on credit 40,000.(5) sold goods for (credit costing 60,000) 80,000. (6) paid rent 1500. (7) paid salaries 2000. (8) received commissions 800. (9) withdrew in cash for personal use 5000

Answer 1

Answer

Please refer the attachments for your answer

Zoom it to see clearly

In first page i have done only 8 transactions

In second page I have done the last transaction and then the total

In last page i have done the Balance Sheet  

Hope it will help you

                                                                                                           

Answer 2

Answer:

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Explanation:

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