Question

Write the formula for A-1 
​

Answer 1

Answer:

Show the accounting equation on the basis of the following transaction: (12)

(a) Udit started business with: (i) Cash Rs. 5,00,000

(ii) Goods Rs. 1,00,000

(b) Purchased building for cash Rs. 2, 00,000

(c) Purchased goods from Himani Rs. 50,000

(d) Sold goods to Ashu (Cost Rs. 25,000) Rs. 36, 000

(e) Paid insurance premium Rs. 3,000

(f) Rent outstanding Rs. 5,000

(g) Depreciation on building Rs. 8,000

(h) Cash withdrawn for personal use Rs. 20,000

(i) Rent received in advance Rs. 5,000

(j) Cash paid to Himani on account Rs. 20,000

(k) Cash received from Ashu Rs. 30,000

(l) Interest on Capital Rs. 1,000.