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]​

Answer 1

Answer:

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