Show Accounting Equation on the basis of the following transactions:-
(a) Mr. Ajay started business with cash 80,000, Inventory 50,000 and Machinery 5,000.
(b) Purchased furniture for cash 4,000 and purchased goods from Naveed store of 5,000
(c) Sold goods to Rashid on credit basis for 8,000, costing 6,500.
(d) Sold goods for cash 15,000, which is 20% above cost.

What will be the accounting equation for part (d)??

Dear student
Regards

  • 5
What are you looking for?