Question

Q:9 Show the Accounting EQUATION on the basis of following transactions and also show the Balance Sheet. 1. Commenced business with cash Rs 50,000 ; Goods Rs 50,000 and Furniture Rs 20,000. 2. Purchased goods from Gopal on credit Rs 40,000 and cash Rs 10,000 3. Sold goods for cash Rs 40,000 (costing Rs 30,000) 4. Sold Goods to Ram on credit R$ 65,000 (costing Rs 50,000) 5. Withdrew for personal use goods costing Rs 5,000. 6. Paid Rent Rs 4,000 and Salary 6,000 7. Received Commission Rs 5000 (8)​

Answer 1

Answer:

This very simple

particulars. Assets = liabilities+capital