Question

Show the accounting equation on the basis of the following transactions.

1. Anil commenced business with `20,000.

2. Purchased Furniture for `500 in cash.

3. Purchased goods for `1,000 in cash.

4. Purchased goods for `2,000 on credit.

5. Sold goods costing`2,500 on credit for `4,000.

6. Paid 1,000 for Rent and `5,000 for salary.

7. Rakesh withdrew `2,000 for personal use.​

Answer 1

Answer:

2368+67++++++889064(789)5