Question

Q.9 Show the accounting Equation on the basis of the following transaction:-
a) Started Business with cash 60,000 and goods ? 30,000
b) Purchased Goods for cash 40,000 and on credit 25,000
c) Goods costing? 48,000 sold at a profit of 33%. Three fourth payments received in cash.
d) Goods costing 20,000 sold at a loss of 5%, out of which 12,000 received in cash.
e) Paid rent ? 4,000 and salary 6,000
f) Received cash for debtors ? 15,000
g) Paid telephone bill amounting 800
[Ans. Assets: cash 84,200 + stock ? 27,000 + Debtors ? 8,000 = Liabilities: Creditors ? 25,000 + Capital
94,200]​

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