Question

prove that accounting equation is satisfied in all the following transaction of sameer goel
1 started business with cash 100000
2 paid rent in advance 3000
3 purchase goods for cash 50000 on credit 20000
4 sold goods for cash 80000 coasting 40000
5 paid salary in cash 4500 and salary outstanding 1000
6 bought motorcycle for personal use 30000

Answer 1

Explanation:

Assets

=9,250 + 300 + 3,000

=Rs12,550

Liabilities

=2,000 + 100

=Rs2,100

Capital

=10,450

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