No products in the cart.

Prepare Accounting Equation from the following:- …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

Prepare Accounting Equation from the following:- 1. Sandeep started business with cash - Rs 1,00,000 2. Purchased furniture for cash - Rs 5,000 3. Purchased goods for cash - Rs 20,000 4. Purchased goods on credit - Rs 36,000 5. Paid for rent -Rs 700 6. Goods costing Rs 40,000 sold at a profit of 20 percent for cash - ?

Posted by Shivi Sisodia 4 years, 11 months ago

CBSE > Class 11 > Business Studies

1 answers

Gaurav Seth 4 years, 11 months ago

ACCOUNTING EQUATION
S. No.	Transaction	Assets	=	Liabilities	+	Capital
Cash	+	Furniture	+	Stock	=	Creditors
(i)	Sandeep started business with cash	1,00,000							+	1,00,000
		1,00,000					=		+	1,00,000
(ii)	Purchased furniture for cash	–5,000		+5,000
		95,000	+	5,000			=		+	1,00,000
(iii)	Purchased goods for cash	–20,000				+20,000
		75,000	+	5,000	+	20,000	=		+	1,00,000
(iv)	Purchased goods on credit					+36,000		+36,000
		75,000	+	5,000	+	56,000	=	36,000	+	1,00,000
(v)	Rent paid	-700								–700
		74,300	+	5,000	+	56,000	=	36,000	+	99,300
(vi)	Goods costing Rs 40,000 sold at a profit of 20% for cash	+48,000				-40,000				+8,000
		1,22,300	+	5,000	+	16,000	=	36,000	+	1,07,300

Working Note:

WN1 Calculation of Sale Price

ANSWER

http://mycbseguide.com/examin8/

Related Questions

describe all the types of banks, commercial bank, cooperative bank, specialised bank, central bank....

Posted by Harshita Modi 1 year ago

CBSE > Class 11 > Business Studies

0 answers

Create a blue print of 12-15 pages on case study on a product topic- fishes from coastal areas

Posted by Pranav Damariya 1 year ago

CBSE > Class 11 > Business Studies

0 answers

To make an imaginary portfolio totalling a sum of rupees 5000 equally in any of the five companies of their choice listed above over a period of 20 working days the students may be required to record the presence of this talk on on daily basis and present a diagrammatically on the graph paper they will understand the weekly holidays and the holidays under the can negotiable instrument act they will also come across the terms like closing prices opening price etc

Posted by Yuwansh Singh 1 year ago

CBSE > Class 11 > Business Studies

0 answers

Why are global enterprises considered superior to other business organisation

Posted by Amandeep Kaur 1 year ago

CBSE > Class 11 > Business Studies

0 answers

Ankita is the manager in the mnc

Posted by Krisha Bhuva 1 year ago

CBSE > Class 11 > Business Studies

0 answers

What's the business

Posted by Ranjit Verma 11 months, 3 weeks ago

CBSE > Class 11 > Business Studies

0 answers

Shubhash dey class 11 bst ch3 cbq

Posted by Anishka Bephlawat 11 months, 1 week ago

CBSE > Class 11 > Business Studies

0 answers

case study on apples from kashmir and himachal pradesh 1. research for change in price of apples in plucking and non plucking season 2. effect on price in the absence of effective transport system 3. effect on price in the absence of suitable warehouse facilities 4. role of warehouse 5. demand and supply situation of the apple during harvesting season 6. price near the place of origin and away.

Posted by Valiant Rider 5 months, 2 weeks ago

CBSE > Class 11 > Business Studies

0 answers

Discuss the various social objectives of business class 11

Posted by Suhan Chamadiya 1 year ago

CBSE > Class 11 > Business Studies

0 answers

Have you ever witnesses any shop or a business get in closed in your locality.interact with the owner to find out the reason for it closer or losses incurred. Prepare a project report on the factor to be considered for starting any business

Posted by Rajesh Agrawal 11 months, 3 weeks ago

CBSE > Class 11 > Business Studies

1 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Google Play

Download myCBSEguide App