Question

Transactions of M/s Vipin Traders are given below.
Show the effects on Assets, Liabilities and Capital with the help of accounting
Equation
(a) Business started with cash
Rs. 1,25.000
(b) Purchased goods, for cash
Rs. 50.000
(c) Purchase furniture from R.K. Furniture
Rs. 10,000
(d) Sold goods to Parul Traders (Costing Rs. 7,000 vide Rs.9.000
bill no. 5674)
te) Paid cartage
Rs. 100
(1) Cash Paid to R.K. furniture in full settlement
Rs. 9.700
(g) Cash sales (costing Rs.10,000)
Rs. 12.000
(h) Rent received
Rs. 4.000
(1) Cash withdrew for personal use
Rs. 3.000​

Answer 1

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