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Show the accounting equation on the basis of the following transactions 1 Gopinath started business with 25000 2 purchase goods form Shyam 10000 3 sold goods to Sohan costing 1800 1500 4 Gopinath withdraw from business 5000

Posted by Priyanshu Kumar 8 years, 6 months ago

CBSE > Class 11 > Accountancy

1 answers

Mizanur Khan 8 years, 6 months ago

Transaction.............................................Cash+Stock..................................=Capital+CreditorGopinath start bussiness with cash......+25000............................................+25000.............. Purchase goods from Shyam.........................+10000..................................................+10000 New equation...........................................25000+10000..............................=25000+10000.... Sold goods to sohan...............................+1500-1800....................................-300.................... New equation...........................................26500+8200................................=24700+10000..... Gopinath withdraw from bussiness........-5000..............................................-5000................. New equation...........................................21500+8200.................................=19700+10000....

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