Question

Show the following transactions in the accounting equation:

(a) Rahul commenced business with cash ₹ 50000, cheque of ₹ 100000, goods worth ₹

60000, machinery ₹ 100000 and Furniture ₹50,000

(b) 1/3rd of the above goods sold at a profit of 10% on cost. Half the payment received

in cash.

(c) Depreciation provided on machinery @ 10%

(d) Cash withdrawn for personal use ₹ 10000

(e) Interest on drawing charged @5%

(f) Goods sold to Gupta for ₹ 10000 and Bills Receivable received for the same for 3

months

(g) Received ₹ 10000 from Gupta against Bills Receivable on maturity​

Answer 1

Answer:

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Explanation:

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