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

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

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