Question

Prove that the Accounting equation is satisfied in all the following transactions of “Sooraj Mart.” (i) Commenced business with cash Rs. 5,00,000 (ii) Purchased goods from Aman Rs. 25,000 (iii) Sold goods to Ahmed Rs. 23,000 (costing Rs. 20,000) (iv) Cash Rs. 24,000 paid to Aman in full settlement of his account.

Answer 1

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