Question

Q. 8. Prepare the Accounting Equation on the basis of the following:
(a) Started business with cash 31,40,000 and Stock *2,50,000.
(6) Sold goods (costing 50,000) at a profit of 25% on cost.
(c) Deposited into bank account 1,80,000.
(d) Purchased goods from Mohan 80,000.
Delhi 2013
(Ans. Assets : Cash 22,500 + Stock 72,80,000 + Bank 1,80,000 = Creditors
380,000 + Capital 4,02,500.]​

Answer 1

Answer:

Assets : Cash Rs. 22,500 + Stock Rs. 2,80,000 + Bank Rs. 1,80,000 = Creditors Rs. 80,000 + Capital Rs. 4,02, 500