Question

Show the accounting equation for the following Transactions:
i. Purchased Goods from Gopal on Credit Rs. 40,000​

Answer 1

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Answer 2

Ques 3: Prepare Accounting Equation from the following:

(a) Started business with Cash ₹ 2,00,000.

(b) Purchased goods for Cash ₹ 60,000 and on Credit ₹ 1,50,000.

(c) Sold goods for Cash costing ₹ 40,000 at a profit of 20% and on Credit costing ₹ 72,000 at a profit of 25%.

(d) Paid for Rent ₹ 5,000.

Ans:

Accounting Equation Commerce Notes | EduRev

Accounting Equation Commerce Notes | EduRev

Ques 4: Prepare Accounting Equation from the following:

Accounting Equation Commerce Notes | EduRev

Ans:

Accounting Equation Commerce Notes | EduRev

Ques 5: Mohit has the following transactions, prepare Accounting Equation:

Accounting Equation Commerce Notes | EduRev

Ans:

Accounting Equation Commerce Notes | EduRev

Ques 6: What will be the effect of the following on the Accounting Equation?

(i) Harish started business with cash ₹ 1,80,000.

(ii) Purchased goods for cash ₹ 60,000 and on credit ₹ 30,000.

(iii) Sold goods for cash ₹ 40,000; costing ₹ 24,000.

(iv) Rent paid ₹ 5,000; and rent outstanding ₹ 2,000.

(v) Sold goods on credit ₹ 50,000 (costing ₹ 38,000).

(vi) Salary paid in advance ₹ 3,000.

Ans:

Accounting Equation Commerce Notes | EduRev

Ques 7: Use Accounting Equation to show the effect of the following transactions of M/s Royal Traders :Prepare