Question 2.
Show the Accounting Equation for the following transactions:
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Explanation:
Accounting Equation of the following transaction
1 .Gopinath started Business with = Cash 25000 = Capital 25000
2.Purchased goods from Shyam = Stock 10000 = liabilities 10000
3.Sold Goods to Sohan = Stock (1800 )+ Debtor 1500 = Creditors + Capital 24700
4.Gopinath withdrew From Business = Cash (5000) = Capital (5000)
Cash = 20000
Stock = 8200
Debtors = 1500
Creditors = 10000
Capital = 19700
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