Question

solve this :
Use accounting equation to show the effect of the following transactions of M/s Royal Traders:

(a) Started business with cash 1,20,000. (b) Purchased goods for cash 10,000.

(c) Rent received 5,000.

(d) Salary outstanding 2,000. (e) Sold goods for cash (costing 5,000) 7,000.

() Goods destroyed by fire 500.​

Answer 1

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