Question

Q16. show the accounting equation on the basis of the following
and present a balance sheet on the last new equation balances
1. Manu started business with cash rupees 50,000
2. Bought furniture for rupees
500
3.Purchased goods on credit
4,000
4.Sold goods on cash( cost price 500) for
700
5. Receive Commission
1200
6.Purchased goods for cash
1,000
7. Withdrew for personal use
700
8.Paid to creditors rupees
400
200
9.Paid for salaries​

Answer 1

Answer:

1.cash a/c Dr. To capital a/c.

Explanation:

business started with cash.

Answer 2

Explanation:

If you have any confusion on this answer, then ask.