Show the accounting equation on the basis of following transaction and

1.	Show the accounting equation on the basis of following transaction and prepare a balance sheet on the basis of last equation1. Opening Balance: Cash ₹ 20000, Bank ₹ 5000, Creditors ₹ 5000, Capital ₹50000, Stock, ₹ 20000, Debtors ₹ 10000.2. Purchased goods for cash ₹ 7500 and credit for ₹ 5000.3. Goods costing ₹ 10000 sold at 20% profit , half of the amount received in cash.4. Cash stolen away ₹ 50005. ₹ 6000 for commission received in advance.6. Bad debts ₹ 500please help
Answer» Answer: Prepare Accounting EQUATION from the following: (a) STARTED business with Cash ₹ 2,00,000. (b) Purchased goods for Cash ₹ 60,000 and on Credit ₹ 1,50,000. (C) Sold goods for Cash costing ₹ 40,000 at a profit of 20% and on Credit costing ₹ 72,000 at a profit of 25%.

Show the accounting equation on the basis of following transaction and prepare a balance sheet on the basis of last equation1. Opening Balance: Cash ₹ 20000, Bank ₹ 5000, Creditors ₹ 5000, Capital ₹50000, Stock, ₹ 20000, Debtors ₹ 10000.2. Purchased goods for cash ₹ 7500 and credit for ₹ 5000.3. Goods costing ₹ 10000 sold at 20% profit , half of the amount received in cash.4. Cash stolen away ₹ 50005. ₹ 6000 for commission received in advance.6. Bad debts ₹ 500please help

Answer»

Answer:

Prepare Accounting EQUATION from the following: (a) STARTED business with Cash ₹ 2,00,000. (b) Purchased goods for Cash ₹ 60,000 and on Credit ₹ 1,50,000. (C) Sold goods for Cash costing ₹ 40,000 at a profit of 20% and on Credit costing ₹ 72,000 at a profit of 25%.

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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 ?

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