Question

What will be the effect of the following accounting equation?
1. Started business with cash ₹ 45,000
2. Opened a bank account with the deposite of ₹ 4,500
3. Bought goods from M\s. Sun & co. for ₹ 11,200

Answer 1

$\bf\huge\boxed{Answer}$

1) Assets = + cash 45,000 and capital = +45,000

2) asstes = + bank 4500 and - cash 4500

3)Assets = + goods 11200 and liabilities = +11200

or

3)Capital = - purchase 11200 and liabilities = +11200

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