Question

Use accounting equation to show the effect of the following transactions of
M/s Royal Traders:
(a) Started business with cash
Rs.1,20,000
(b) Purchased goods for cash
e Rs. 10,000
(c) Rent received
(d) Salary outstanding
Rs. 2,000
(e) Prepaid Insurance
Rs. 1,000
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Answer 1

Answer:

ypu have not given amount of rent paid for that you habe to subtract the amount from capital and cash