Question

Show the effect of various transactions on accounting equation

a) Subhash introduced cash rs. 3,00,000 to start business

b) Goods purchased rs. 60,000 on credit

c) He withdrew Rs. 50,000 from business for personal use

d) Cash paid to creditors rs. 40,000

e) Furniture purchased in cash rs. 25,000

f) Provide interest on capital rs. 3,0​

Answer 1

Explanation:

Goods purchased rs. 60,000 on credit