PREPARE AN ACCOUNTING EQUATION FOR THE FOLLOWING TRANSACTIONS
1.STARTED BUSINESS WITH CASH OF RS 3,00,000
2.PURCHASED GOODS WORTH RS 30,000 ON CREDIT
3.SOLD GOODS FOR CREDIT RS 40,000
4.PAID SALARY OF RS 25,000
5.RECEIVED RENT OF RS 35,000
Dear Student
Regards
| Particulars | Assets | = | Liabilities | + | Capital | |||
| Cash | Stock | Debtors | Creditors | |||||
| (i) Startred business with cash | 300,000 | 300,000 | ||||||
| ii) Purchased goods on credit | 30,000 | 30,000 | ||||||
| iii) Sold goods for credit | -40,000 | 40,000 | ||||||
| iv) Paid salary | -25,000 | -25,000 | ||||||
| v) Received rent | 35,000 | 35,000 | ||||||
| Total | 310,000 | -10,000 | 40,000 | 30,000 | 310,000 | |||
Regards