Question

Show an accounting equation from the following and also prepare a Balance Sheet on the basis of final equation. i. Business commenced for Cash Rs.50,000 and Rs.1,00,000 by Cheque; Goods Rs. 60,000; Machinery Rs. 1,00,000 . ii. Furniture of Rs. 10,000 purchased and payment made by Cheque. iii. 1/3rd of the above goods sold at a profit of 10% on cost and half of the payment is received in cash. iv. Depreciation on machinery provided @ 10%. v. Salary Outstanding Rs. 2,000. vi. Accrued Interest Rs. 1,000.​

Answer 1

Answer:

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Explanation:

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