Develop an Accounting Equation from the following transactions Mohan commenced business with cash ₹ 50,000
Develop an Accounting Equation from the following transactions:
[Assets: Cash ₹ 16,000 + Stock ₹ 40,000 + Furniture ₹ 2,000 = Liabilities: Creditors ₹ 5,000 + Vendor for Furniture ₹ 2,000 + Capital: ₹ 51,000.]
| i) Mohan commenced business with cash | ₹ 50,000 |
| ii) Purchase goods for cash | ₹ 30,000 |
| iii) Purchased goods on credit | ₹ 20,000 |
| iv) Sold goods (costing ₹ 10,000) for | ₹ 12,000 |
| v) Bought furniture on credit | ₹ 2,000 |
| vi) Paid cash to a creditor | ₹ 15,000 |
| vii) Salary paid | ₹ 1,000 |
Anurag Pathak Changed status to publish September 16, 2023
