Purchased furniture ₹25000 and fixtures for cheque ₹38000.(account

1.	Purchased furniture ₹25000 and fixtures for cheque ₹38000.(accounting equation)
Answer» Answer: ACCOUNTING EQUATION S. No. Transaction Assets = Liabilities + Capital CASH + Furniture + Stock = Creditors (i) Sandeep STARTED business with cash 1,00,000 + 1,00,000 1,00,000 = + 1,00,000 (II) Purchased furniture for cash –5,000 +5,000 95,000 + 5,000 = + 1,00,000 (iii) Purchased goods for cash –20,000 +20,000 75,000 + 5,000 + 20,000 = + 1,00,000 (iv) Purchased goods on credit +36,000 +36,000 75,000 + 5,000 + 56,000 = 36,000 + 1,00,000 (v) Rent paid -700 –700 74,300 + 5,000 + 56,000 = 36,000 + 99,300 (vi) Goods costing Rs 40,000 sold at a profit of 20% for cash +48,000 -40,000 +8,000 1,22,300 + 5,000 + 16,000 = 36,000 + 1,07,300 Explanation: please follow me please

Purchased furniture ₹25000 and fixtures for cheque ₹38000.(accounting equation)

Answer»

Answer:

ACCOUNTING EQUATION

S. No. Transaction Assets = Liabilities + Capital

CASH + Furniture + Stock = Creditors

(i) Sandeep STARTED business with cash 1,00,000 + 1,00,000

1,00,000 = + 1,00,000

(II) Purchased furniture for cash –5,000 +5,000

95,000 + 5,000 = + 1,00,000

(iii) Purchased goods for cash –20,000 +20,000

75,000 + 5,000 + 20,000 = + 1,00,000

(iv) Purchased goods on credit +36,000 +36,000

75,000 + 5,000 + 56,000 = 36,000 + 1,00,000

(v) Rent paid -700 –700

74,300 + 5,000 + 56,000 = 36,000 + 99,300

(vi) Goods costing Rs 40,000 sold at a profit of 20% for cash +48,000 -40,000 +8,000

1,22,300 + 5,000 + 16,000 = 36,000 + 1,07,300

Explanation:

please follow me please

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