Prepare Accounting Equation from the following and also prepare a Balance Sheet. Raghu started business with case ₹ 1,50,000.

Prepare Accounting Equation from the following and also prepare a Balance Sheet:-

1. Raghu started business with case ₹ 1,50,000.

2. Bought goods for cash ₹ 80,000 and on credit for ₹ 40,000.

3. Goods costing ₹ 75,000 sold at a profit of 33 and 1/3%. Half the payment received in cash.

4. Goods costing ₹ 10,000 sold for ₹ 12,000 on credit.

5. Paid for Rent ₹ 2,000 and for salaries ₹ 4,000.

6. Goods costing ₹ 20,000 sold for ₹ 18,500 for cash.

[Ans. Assets : Cash ₹ 1,32,500 + Stock ₹ 15,000 + Debtors ₹ 62,000 = Liabilities : Creditors ₹ 40,000 + Capital ₹ 1,69,500; Balance Sheet total ₹ 2,09,500.]