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Prepare Accounting Equation from the following:- …

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Prepare Accounting Equation from the following:- 1. Started business with cash Rs 70,000. 2. Credit purchase of goods Rs 18,000. 3. Payment made to creditors in full settlement Rs 17,500. 4. Purchase of machinery for cash Rs 20,000.

Posted by Shivi Singh 5 years, 4 months ago

CBSE > Class 11 > Accountancy

1 answers

Gaurav Seth 5 years, 4 months ago

Prepare an Accounting Equation on the basis of the following transactions:
(i) Started business with Cash ₹ 70,000
(ii) Credit purchase of goods ₹ 18,000
(iii) Payment made to creditor ₹ 17,500 in full settlement
(iv) Purchase of Machinery for Cash ₹ 20,000
(v) Depreciation on Machinery ₹ 2,000
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