Question

Show the accounting equation on the basis of the following transactions: (i) Started business with Cash Rs. 60,000 and Goods Rs. 30,000. (ii) Purchased goods for Cash Rs. 40,000 and on Credit Rs. 25,000 (iii) Goods costing Rs. 48,000 sold at a profit of 331/3%. Three-fourth payment received in cash. (iv) Goods costing Rs. 20,000 sold at a loss of 5%, out of which Rs. 12,000 received in cash. (v) Paid Rent Rs. 4,000 and Salary Rs. 6,000. (vi) Received cash from debtors Rs. 15,000​

Answer 1

Answer:

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