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Prepare an accounying equation on the …

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Prepare an accounying equation on the basis of the following transactions : 1. Started business with cash ₹70,000 2. Credit purchase of goods ₹18,000 3. Paymebt made to creditors in full settlements ₹17,500 4. Purchase of machinery for cash ₹20,000 5. Depreciation on machinery ₹2,000.

Posted by Lavesh Jain 7 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Anshika Bhadouria 7 years, 8 months ago

1.70,000 are add in capital or cash. 2.18000 are add in stock which is created in assets or 18000 are add in liabilities create creditors. 3.sub 17,500 from cash and sub180000 from creditors and the profit of 500 is add in capital. 4. Machinery column are created in assets 20000 are add in machinery and 20000 sub in cash . 5.2000 are sub in machinery or capital

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