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Accounting equation Started business with cash …

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Accounting equation Started business with cash 500000 Purchase goods on credit 40000 Purchase goods 10000 Purchase furniture 5000 Withdraw for personal use 7000 Paid rent 2000 Receive interest 1000 Sold goods on credit (cost 5000) for 7000

Posted by Yatendra Singh 5 years, 10 months ago

CBSE > Class 11 > Accountancy

2 answers

Adiii Agrawal 5 years, 10 months ago

Assets =capital+liablity Cash+goods+furniture+dr=capital+cr 1.500000+0+0+0=500000+0 2.0+40000+0+0=000+40000 New equ. 500000+40000+0+0=500000+40000 3.-10000+0+10000+0=0+0 New equ 490000+40000+10000+0=500000+ 40000 4.-5000+0+0+0=-5000+0 New equ 485000+40000+10000+0+495000 +40000 5.-7000+0+0+0=-7000+0

Yatendra Singh 5 years, 10 months ago

Answer please

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