Question

Show the Accounting equation on the basis of following transactions:
a. Alok commenced business with cash Rs. 80,000 and goods Rs. 60,000
b. He purchased goods from Vaibhav enterprise worth Rs. 40,000 with cash
c. He purchased goods from Arya & Co. worth Rs. 50,000 on credit
d.Purchased furniture from Maria Ltd. worth Rs. 20,000
e. He sold goods to Prabhakar (Cost price 50,000) Rs. 55,000
f.Salary Rs. 3,000 and wages Rs. 1,000 paid
g. Withdraw cash for private use Rs. 3,000​

Answer 1

Explanation:

A Bank's Balance Sheet. A balance sheet is an accounting tool that lists assets and liabilities. ... The net worth is the asset value minus how much is owed (the liability). A bank's balance sheet operates in much the same way. A bank's net worth is also referred to as bank capital.

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