Purchased goods from Sneha Enterprises for Rs 600000 and made the payment from the
business's bank account
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Answer:
Explanation:
Assets= Liabilities +Equity
Assets include
Purchased furniture= Rs 675,000
Goods sold on credit=Rs 400,000
Goods sold=Rs 300,000
Purchased goods from Sneha=Rs 600,000
Total Assets=Rs 1,975,000
Equity
Cash introduced by owners 12 lakhs which is Rs 1,200,000
Liabilities
Goods purchased on Credit=Rs 105,000
Rs 1,975,000 is more than Rs 1,200,000+Rs 105,000
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