Question

Show the accounting equation on the basis of boarding and presently balance sheet of the new equation balances:-
Manu started business with cash 50000
Bought furniture for 500
Purchased goods on credit 4000
Sold goods on cash cost 500 for 700
Received rent 200
Purchased goods for cash 1000
Withdrew for personal use 700
Paid to creditors 400
Paid for salaries 200

Answer 1

Question:-

Show the accounting equation on the basis of boarding and presently balance sheet of the new equation balances:-

• Manu started business with cash 50000
• Bought furniture for 500
• Purchased goods on credit 4000
• Sold goods on cash cost 500 for 700
• Received rent 200
• Purchased goods for cash 1000
• Withdrew for personal use 700
• Paid to creditors 400
• Paid for salaries 200

Solution:-

Please refer to the attachment (:

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