Question

Show the accounting equation on the basis of the following transaction:







(a)

Udit started business with:

Rs



(i)

Cash

5,00,000



(ii)

Goods

1,00,000

(b)

Purchased building for cash

2,00,000

(c)

Purchased goods from Himani

50,000

(d)

Sold goods to Ashu (Cost Rs 25,000)

36,000

(e)

Paid insurance premium

3,000

(f)

Rent outstanding

5,000

(g)

Depreciation on building

8,000

(h)

Cash withdrawn for personal use

20,000

(i)

Rent received in advance

5,000

(j)

Cash paid to Himani on account

20,000

(k)

Cash received from Ashu

30,000

Answer 1

particulars. cash. stock. capital. laibilities
started. 500. 100. 600000
business. 000. 000
purchase. 50000. 50000
goods