Prepare an Accounting Equation on the basis of the following transactions: (i) Started business with cash ₹ 70,000
Prepare an Accounting Equation on the basis of the following transactions:
(i) Started business with cash ₹ 70,000.
(ii) Credit purchase of goods ₹ 18,000.
(iii) Payment made to creditors in full settlement ₹ 17,500.
(iv) Purchase of machinery for cash ₹ 20,000.
(v) Depreciation on machinery ₹ 2,000.
[Assets: Cash ₹ 32,500 + Stock ₹ 18,000 + Machinery ₹ 18,000 + Liabilities: Nil + Capital: ₹ 68,500.]
Anurag Pathak Changed status to publish September 16, 2023
