Question

Prove that the accounting equation is satisfied in all the following transactions of sudhir :-

1. Started business with Cash Rs.50,000 and goods Rs.20,000.

2. Bought goods for Cash Rs.15,000 and on credit for Rs.10,000.

3. Goods Costing Rs. 24,000 sold at a profit of 33 1/3%. Half the payment received in cash.

4. Purchased furniture for office use Rs.6,000 and for household use of sudhir

Rs.4,000.​

Answer 1

First is the answer

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