Prepare an Accounting Equation from the following: (i) Started business with cash ₹ 50,000 and goods ₹ 30,000.
Prepare an Accounting Equation from the following:
(i) Started business with cash ₹ 50,000 and goods ₹ 30,000.
(ii) Purchased goods for cash ₹ 30,000 and on credit from Karan ₹ 20,000.
(iii) Goods costing ₹ 40,000 were sold for ₹ 55,000.
(iv) Withdrew cash for personal use ₹ 10,000.
(v) Rent outstanding ₹ 2,000.
[Assets: Cash ₹ 65,000 + Stock ₹ 40,000 = Liabilities: Outstanding Rent ₹ 2,000 + Creditors ₹ 20,000 + Capital: ₹ 83,000.]
Anurag Pathak Changed status to publish September 16, 2023
