Show the Accounting Equation on the basis of the following transactions and present a Balance Sheet on the last new equation balance:
(i) |
Raj commenced business with cash |
70,000 |
(ii) |
Purchase goods on credit |
14,000 |
(iii) |
Withdrew for private use |
1,700 |
(iv) |
Goods purchased for cash |
10,000 |
(v) |
Paid wages |
300 |
(vi) |
Paid to creditors |
10,000 |
(vii) |
Sold goods on credit for |
15,000 |
(viii) |
Sold goods for cash (cost price was purchased motorcycle for cash Rs.3000) |
4,000 |
(ix) |
Purchased furniture for |
500 |