Mohit has the following transactions, prepare Accounting Equation Business started with cash 1,75,000
Mohit has the following transactions, prepare Accounting Equation:
[Ans. Assets : Cash ₹ 1,32,500 + Stock ₹ 32,500 + Furniture ₹ 10,000 = Capital ₹ 1,75,000.]
| 1 | Business started with cash | 1,75,000 |
| 2 | Purchased goods from Rohit | 50,000 |
| 3 | Sold goods on credit to Manish (Costing ₹ 17,500) | 20,000 |
| 4 | Purchased furniture for office use | 10,000 |
| 5 | Cash paid to Rohit in full settlement | 48,500 |
| 6 | Cash Received from Manish | 20,000 |
| 7 | Rent Paid | 1,000 |
| 8 | Cash withdrew for personal use | 3,000 |
Anurag Pathak Answered question June 5, 2024
