Pl tell the answer of Q 3 Accounting Equation Level 3
3 Show the accounting equation from the following transactions and
prepare a balance sheet on the basis of equation:
a) Started a business with cash , , Machinery S40,OOO
and Buildings S 50,000
b) Purchased furniture from Ram & co $5,000 on credit
c) Paid salaries $2,000.
d) Outstanding wages $2,000.
e) Prepaid insurance Sl ,OOO.
f) Rent paid in advance Sl ,500.
g) Commission due but not paid $1 ,000.
h) Goods sold for(cost price $5,000) $6,000 out of which th
received in cash.
i) Depreciation on furniture $500.
j) Withdrew $ 5000 from business for personal use
k)
, 'coo
of
