1.

5. Use accounting equation to show effect of the following transactionson assets, liabilities and capital :(a) Started business with cash 30,000 goods 40,000 and furniture20,000.(b) Bought goods from Raman 20,000(c) Sold goods bought from Raman to Sohan for * 25,000(d) Paid rent 4,000 and rent still outstanding * 1,000(e) Sohan settled his account at a discount of 500.Received commission 5,000 including 1,000 as advance.[Ans. Cash 55,500 + Stock * 40,000 + Furniture 20,000 = Creditors20,000 + Rent Outstanding 1,000 + Advance Commission 1,000+ Capital 93,500][Hint. Trans. (f) Com. 4,000 is income and 1,000 advance receivedis liability]​

Answer»

ANSWER:

I can't UNDERSTAND your QUESTION

EXPLANATION:

please make me as brainlist



Discussion

No Comment Found

Related InterviewSolutions