Question

Q-15: Prepare accounting equation of Amit on the basis of following transactions
1) Commenced business with cash 80,000
2) Bought goods for cash 20,000 and on credit 25,000
3) Paid wages 3000 and Rent 1000
4) Wages outstanding 1000
5) Sold goods costing 12,000 for 16,000 for cash​

Answer 1

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