1.

Develop an Accounting Equation from the following transactions: ₹ (i) Mohan commenced business with cash 50,000 (ii) Purchased goods for cash 30,000 (iii) Purchased goods on credit 20,000 (iv) Sold goods (costing ₹ 10,000) for 12,000 (v) Bought furniture on credit 2,000 (vi) (vii) Paid cash to a creditor Salary paid 15,000 1,000

Answer» Develop an Accounting Equation from the following transactions:











































₹
(i) Mohan commenced business with cash 50,000
(ii) Purchased goods for cash 30,000
(iii) Purchased goods on credit 20,000
(iv) Sold goods (costing ₹ 10,000) for 12,000
(v) Bought furniture on credit 2,000
(vi)

(vii)		 Paid cash to a creditor

Salary paid		 15,000

1,000


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