What will be the effect of the following on the Accounting Equation? Harish started business with cash ₹ 18,000
What will be the effect of the following on the Accounting Equation?
(i) Harish started business with cash ₹ 18,000
(ii) Purchased goods for cash ₹ 5,000 and on credit ₹ 2,000
(iii) Sold goods for cash ₹ 4,000 (Costing ₹ 2,400)
(iv) Rent paid ₹ 1,000 and rent outstanding ₹ 200
[Assets: Cash ₹ 16,000 + Stock ₹ 4,600 = Liabilities: Outstanding Rent ₹ 200 + Creditors ₹ 2,000 + Capital: ₹ 18,400.]
Anurag Pathak Changed status to publish September 16, 2023
