Question

Show the effect of following transactions on the accounting equation and prepa
eet at end :
(i) Vriti commenced business with cash 90,000 and stock * 40,000.
(ii) Purchased goods for cash 30,000.
(iii) Purchased goods on credit 20,000.
(iv) Sold goods costing 18,000 for 15,000.
(v) Sold goods costing 10,000 for 13,000 on credit.
(vi) Goods distributed as free samples 16,000.
(vii) Goods withdrawn by Vriti for personal use * 7,000.​

Answer 1

Explanation:

i) Vriti commenced business with cash 90,000 and stock * 40,000.

Answer 2

Answer:

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