Question

Prepare Accounting Equation from the following:
(i) Started business with cash Rs. 1,00,000 and Goods Rs. 20,000.
(ii) Sold goods worth Rs. 10,000 for cash Rs. 12,000.
(iii) Purchased furniture on credit for Rs. 30,000

Answer 1

(i) Started business with cash Rs. 1,00,000 and Goods Rs 20,000.
(ii) Sold goods worth Rs. 10,000 for cash Rs. 12,000.
(iii) Purchased furniture on credit for Rs. 30,000