Question

ud to creditors
(vii) Sold goods on credit for
(ix) Purchased furniture for
(viii) Sold goods for cash (cost price was 3,000)
14. Raghunath had the following transactons in an accounting year.
(iii) Purchased goods for cash 20,000 and credit 80,000.
(i) Commenced business with cash 50,000,
(ii) Paid into bank * 10,000,
(Assets: * 73,000 = Liabilities: 7 4,000 - Capital: 769
(iv) Sold goods for cash 40,000 costing 30,000.
(U) Rent paid 500.
(vi) Rent outstanding 100.
(vii) Bought furniture 5,000 on credit.
(viii) Bought refrigerator for personal use 5,000.
(ix) Purchased motorcycle for cash 20,000.
Create an Accounting Equation to show the effect of the above transactions on hi
liabilities and capital and also show his final Balance Sheet,
[Assets: 789,500 = Liabilities: 35,100 + Capital:
15. Prepare an Accounting Equation from the following:
(i) Started business with cash 50,000 and goods 30,000.​

Answer 1

Answer:

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