Question

The accounting equation asset = capital + liabilities, which of the following is true. Ram has started business with 5,50,000 and has purchased goods worth 1,50,000 on credit a) 7,00,000 = 5,50,000 + 1,50,000 b) 7,00,000 = 6,50,000 + 50,000 c) 5,50,000 = 7,00,000 - 1,50,000 d) 5,50,000 = 5,00,000 + 50,000

Answer 1

april 1 started business with cash 70000as capital general the follwing transtion