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What will be the effect of the following on the Accounting Equation?(i) Harish started business with cash ₹ 18,000(ii) Purchased goods for Cash ₹ 5,000 and on credit ₹ 2,000(iii) Sold goods for cash ₹ 4,000 (costing ₹ 2,400)(iv) Rent paid ₹ 1,000 and rent outstanding ₹ 200 |
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Answer» What will be the effect of the following on the Accounting Equation? (i) Harish started business with cash ₹ 18,000 (ii) Purchased goods for Cash ₹ 5,000 and on credit ₹ 2,000 (iii) Sold goods for cash ₹ 4,000 (costing ₹ 2,400) (iv) Rent paid ₹ 1,000 and rent outstanding ₹ 200 |
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