Question

Q. 26. Show the accounting equation on the basis of the following transactions an
also show the Balance Sheet :
(i) Started business with Cash 360,000 and Goods 330,000,
(ii) Purchased goods for Cash 340,000 and on Credit *25,000,
(iii) Goods costing 348,000 sold at a profit of 33%. Three-fourth
payment received in Cash
(iv) Goods costing *20,000 sold at a loss of 5%, out of which
312,000 received in Cash.
(v) Paid Rent 74,000 and Salary 36,000,
(vi) Received Cash from Debtors 315,000.
(vii) Paid telephone bill amounting to 800,​

Answer 1

dont know the answer

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Answer 2

Explanation:

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