Question

Show the Accounting Equation for the following transactions - sold goods costing Rs. 5000 at a loss of Rs. 500 in cash

Answer 1

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Step by step explanation:

The original cost of goods: Rs. 5000

Loss: Rs.500,

So, the amount paid by the buyer is 4500.

ACCOUNTING EQUATION:

STOCK - less 5000 , Cash - add 4500 Capital- less 500