Show the accounting equation on the basis of the following transactions:
50,000
4,000
1,000
500
200
(i) Manu started business with cash
(ii) Purchased goods on credit
(iii) Purchased goods for cash
(iv) Purchased furniture for
(v) Paid rent
(vi) Withdrew for private use
(vii) Received interest for
(viii) Sold goods on credit (cost 500) for
(ix) Paid to creditors
(x) Paid salaries for
700
100
700
400
200
Solution:
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