Question

solve the accounting equation

Answer 1

1) debit side cash (+60000) and capital (+60000)
2) Debit side prepaid expenses (+500) , cash (- 500)
3) debit side cash (-30000) ,goods (+50000) and liabilities side creditors (+20000)
4) debit side cash (+30000) ,goods (-20000) and capital (+10000)
5) debit side cash (-500) and liabilities side outstanding expenses (+100) and capital (-500) (-100)
6) debit side cash (-5000) and capital (-5000)
according to this prepare a balance sheet