Prepare Accounting Equation from the following Kunal started business with cash ₹ 2,50,000
Prepare Accounting Equation from the following:
| 1 | Kunal started business with cash | 2,50,000 |
| 2 | He purchased furniture for cash | 35,000 |
| 3 | He paid commission | 2,000 |
| 4 | He purchased goods on credit | 40,000 |
| 5 | He sold goods (Costing ₹ 20,000) for cash | 26,000 |
[Ans. Assets : Cash ₹ 2,39,000 + Furniture ₹ 35,000 + Stock ₹ 20,000 = Liabilities: Creditors ₹ 40,000 + Capital ₹ 2,54,000.]
Anurag Pathak Answered question June 5, 2024
