When bad debts were recovered which have been previously written off from the book will be recorded how in the an accounting equation.
➡️ (h)
18. Show the accounting equation on the basis of the following transactions:
a. Akash commenced business with cash Rs. 75,000, goods Rs. 20,000 and furniture Rs. 5,000.
b. Sold goods costing Rs. 10,000 for Rs. 14,000.
c. Cash deposited with bank Rs. 20,000.
d. Purchased furniture from furniture house' Rs. 20,000.Paid cash 5,000 and balance in cheque.
e. Purchased goods from M/s Karuna costing Rs. 13,000 at a trade discount 15%.
f. Rent paid Rs. 1,000 and due to pay Rs. 200. g. Payment made to M/s Karuna through cheque after deducting 5% cash discount,
h. Recovered Rs. 2,500, previously written off from the book.
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Answer:
Show the accounting equation on the basis of the ... Akash commenced business with cash Rs. 75,000, goods ... h. Recovered Rs. 2,500, previously written off from the ...
Explanation:
Following transactions of Ramesh for April, 2018 are given below. ... Journalise the following transactions in the books of M/s. ... ( Received cash against debts written off as bad earlier). (c).
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