Question

Show the Accounting Equation for the following transactions: (6)

1. Commenced business with Cash ₹80000 and Goods ₹20000.

2. Bought goods for Cash ₹20000 and on credit from Ram for ₹30000.

3. Sold goods bought for cash to Mohan at a profit of 25%.

4. Settled the account of Ram by paying ₹29500 in full settlement.

5. Received Rent ₹2000 of which 1/4th is advance for next year.

6. Bought furniture ₹7000 for office use and for ₹3000 for domestic purpose.


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Answer 1

Answer:

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Explanation:

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