Question

Prove that the Accounting Equation is satisfied in all the following transactions of Sameer Goel: (i) Started business with cash ₹ 10,000. (ii) Paid rent in Advance ₹ 300. (iii) Purchased goods for cash ₹ 5,000 and credit ₹ 2,000. (iv) Sold goods for cash ₹ 8,000 costing ₹ 4,000. (v) Paid salary ₹ 450 and salary outstanding being ₹100. (vi) Bought motorcycle for personal use ₹ 3,000.

Answer 1

Explanation:

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