Q22. Show the accounting equation on the basis of the following transactions and also show the Balance Sheet: (a) Started business with cash ₹ 60,000 and Goods ₹ 30,000. (b) Purchased goods for Cash ₹ 40,000 and on credit ₹ 25,000 (c) Goods costing ₹ 48,000 sold at a profit of 33 1 3 %. Three – fourth payment received in Cash. (d) Goods costing ₹ 20,000 sold at a loss of 5% out of which ₹ 12,000 received in Cash (e) Paid rent ₹ 4,000 and salary ₹ 6,000 (f) Received Cash from Debtors ₹ 15,000 (g) Paid telephone bill amounting to ₹ 800.
