Show the effect of the following transactions on the Accounting Equation: Started business with cash ₹ 50,000
Show the effect of the following transactions on the Accounting Equation:
(i) Started business with cash ₹ 50,000.
(ii) Salaries paid ₹ 2,000.
(iii) Wages outstanding ₹ 200.
(iv) Interest due but not paid ₹ 100.
(v) Rent paid in advance ₹ 150.
[Assets: Cash ₹ 47,850 + prepaid Rent ₹ 150 = Liabilities: Outstanding Expenses ₹ 300 + Capital: ₹ 47,700.]
Anurag Pathak Changed status to publish September 16, 2023
