Question

Show the effect o following transaction on Assets, Liabilities and Capital through accounting

equation.

i. Started business with cash Rs. 500000

ii. Purchased goods for cash Rs.50000 and on Credit Rs.20000

iii. Cash sales (costing Rs.10000) for Rs.12000

iv. Cash withdrew for personal use Rs.7000

v. Paid salary in cash Rs.5500.​

Answer 1

Answer:

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