w the effect of the following transactions on the Accounting Equation: i. Started business with cash Rs. 50,000, Stock Rs. 30,000, Furniture Rs. 10,000 and Building Rs. 80,000.
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Explanation:
IN ASSET SIDE
- CASH INCREASED BY 50,000
- STOCK INCREASED BY 30,000
- FURNITURE INCREASED BY 10,000
- BULDING INCREASED BY 80,000
CAPITAL INCREASED BY 1,70,000
- ASSET = LIABILITY + CAPITAL
- 1,70,000 = 0 + 1,70,000
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