Question

Show the Accounting Equation on the basis of the following transactions and prepare a Balance Sheet.
Rs.
1. Maharajan commenced business with cash 1,00,000
2. Purchased goods for cash 70,000
3. Purchased goods on credit 80,000
4. Purchased furniture for cash 3,000
5. Paid rent 2,000
6. Sold goods for cash (costing Rs.45,000) 60,000
7. Paid to creditors 20,000
8. Withdrew cash for private use 10,000
9. Paid salaries 5,000
10. Sold goods on credit (cost price Rs.60,000) 80,000

Answer 1

here is ur answer hope it helps

Answer 2

Show the Accounting Equation on the basis of the following transactions and prepare a Balance Sheet.

Rs.

1. Maharajan commenced business with cash 1,00,000

2. Purchased goods for cash 70,000

3. Purchased goods on credit 80,000

4. Purchased furniture for cash 3,000

5. Paid rent 2,000

6. Sold goods for cash (costing Rs.45,000) 60,000

7. Paid to creditors 20,000

8. Withdrew cash for private use 10,000

9. Paid salaries 5,000

10. Sold goods on credit (cost price Rs.60,000) 80,000