Prepare an Accounting Equation from the following: () Started business

1.	Prepare an Accounting Equation from the following: () Started business with cash 50,000 and goods 30,000.(ii) Purchased goods for cash 30,000 and credit from Karan 20,000 (i) Goods costing R 40,000 were sold for R 55,000.iv) Withdrew cash for personal (v) Rent outstanding 2,000. use 10,000.
Answer» Explanation: Prepare an Accounting Equation from the FOLLOWING: () Started BUSINESS with cash 50,000 and GOODS 30,000.(ii) Purchased goods for cash 30,000 and credit from Karan 20,000 (i) Goods costing R 40,000 were SOLD for R 55,000.iv) Withdrew cash for PERSONAL (v) Rent outstanding 2,000. use 10,000.

Prepare an Accounting Equation from the following: () Started business with cash 50,000 and goods 30,000.(ii) Purchased goods for cash 30,000 and credit from Karan 20,000 (i) Goods costing R 40,000 were sold for R 55,000.iv) Withdrew cash for personal (v) Rent outstanding 2,000. use 10,000.

Answer»

Explanation:

Prepare an Accounting Equation from the FOLLOWING: () Started BUSINESS with cash 50,000 and GOODS 30,000.(ii) Purchased goods for cash 30,000 and credit from Karan 20,000 (i) Goods costing R 40,000 were SOLD for R 55,000.iv) Withdrew cash for PERSONAL (v) Rent outstanding 2,000. use 10,000.

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Tois question based GISTBasie Prodquet? Gust Sales SupplyАB 2200150800118.00 to 20018.001 300 Intre statoI istrustile12.00 lo1120 Istrestaleb.Tabb Trade Details (sales and purchaseJitems opening stat I purchased sold closingo0104803oa) find out belowgiveoQuestionsCGST ,SGST , LGST final balance?1. use different lable for saleand purchas drade.Neft profit from the trade?closing stock valuations ?

Prepare an Accounting Equation from the following: () Started business with cash 50,000 and goods 30,000.(ii) Purchased goods for cash 30,000 and credit from Karan 20,000 (i) Goods costing R 40,000 were sold for R 55,000.iv) Withdrew cash for personal (v) Rent outstanding 2,000. use 10,000.

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