Question

station 3. (Analysis of transactions using accounting equation)
निन लेन-देनों के आधार पर लेखा समीकरण बनाइये तथा अन्तिम समीकरण के शेषों से स्थिति विवरण तैयार कीजिय
Show the Accounting Equation on the basis of following transactions and prepare a Balance Sheet on
the basis of the last equation:
50.000
(1) कृष्ण ने रोकड से व्यवसाय शुरू किया
कर माल खरीदा
० अलराम को वारदेचा
4) जनता डेकोरेटर से उधार फर्नीचर खरीदा
Krishan started a business with Cash
Purchased goods for Cash
Sold to Ram on credit
Purchased furniture from Janta Decorators
5.000
2000
2000
Paid salaries
(6) अस्तिगत प्रयोग के लिए निकाले
मलनकट बेचा
Withdraw for private use
Goods sold for cash
4.000
1500
Outstanding salaries​

Answer 1

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The fundamental accounting equation, also called the balance sheet equation, represents the relationship between the assets, and liabilities of a person or business. It is the foundation for the double-entry bookkeeping system. For each transaction, the total debits equal the total credits. It can be expressed as furthermore:

{\displaystyle {\text{Assets}}={\text{Liabilities}}}{\displaystyle {\text{Assets}}={\text{Liabilities}}} [1][2]

{\displaystyle A=L}{\displaystyle A=L}

{\displaystyle {\text{Assets}}={\text{Liabilities}}}{\displaystyle {\text{Assets}}={\text{Liabilities}}} [1][3]

{\displaystyle a=l}{\displaystyle a=l}

In a corporation, capital represents the stockholders' equity. Since every business transaction affects at least two of a company's accounts, the accounting equation will always be "in balance", meaning the left side of its balance sheet should always equal the right side. Thus, the accounting formula essentially shows that what the firm owns (its assets) is purchased by either what it owes (its liabilities) or by what its owners invest (its shareholders' equity or capital); note that the profits earned by the company, is ultimately owned by its owners.

The formula can be rewritten:

Assets - Liabilities = (Shareholders' or Owners' Equity)[1]

Now it shows owners' equity is equal to property (assets) minus debts (liabilities). Since in a corporation owners are shareholders, owner's equity is called shareholders' equity. Every accounting transaction affects at least one element of the equation, but always balances. Simple transactions also include:[4]