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show the accounting equation the basis of the following : Amit started bussine with cash 5,00,000 purchased good on credit 50,000 paid to creditors 30,000 paid salaries 5,000​

    • Posted by Priyanka Singh 2 years, 1 month ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Karan Gujjar 2 years, 1 month ago

    No.|transactions|. Assets. = Liabilities+capitals 1.|Amit started business with cash| 5,00,000. =0. +5,00,000 2.|purchased goods on credit| 50,000. = 50,000 + 0 New equation| 5,00,000+50,000 = 50,000+ 5,00,000 3.|paid to creditor| -30,000+0= -30,000+0 New equation|4,70,000+50,000 = 20,000+5,00,000 4.|paid salaries|-5,000+0=0 -5,000 New equation| 4,65,000+50,000=20,000+4,95,000 _________________________________ Assets=5,15,000, liabilities=20,000 Capital=4,95,000 _________________________________

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