Prepare an Accounting Equation from the following-i Started business with cash - 1-00-000-iii Sold goods for cash costing - 10-000 and on credit costing - 15-000 both at a profit of 20 -

nbsp; S. No. Transaction Assets = Liabilities + Capital Cash ...

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Prepare an Ac...

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Prepare an Accounting Equation from the following:
(i) Started business with cash ₹ 1,00,000.
(ii) Purchased goods for cash ₹ 20,000 and on credit ₹ 30,000.
(iii) Sold goods for cash costing ₹ 10,000 and on credit costing ₹ 15,000 both at a profit of 20%.

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Prepare an accounting equation from the following:

(i) Kunal started business with cash 2,50,000 Rs

(ii) He purchased furniture for cash 35,000 Rs

(iii) He paid commission 2,000 Rs

(iv) He purchased goods on credit 40,000 Rs

(v) He sold goods (costing 20,000) for cash 26,000 Rs

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S. No.	Transaction	Assets					=	Liabilities	+	Capital
S. No.	Transaction	Cash (Rs)	+	Stock (Rs)	+	Debtors (Rs)	=	Creditors (Rs)		(Rs)
(i)	Started business with cash Rs 1,00,000	1,00,000					=			1,00,000
		1,00,000					=			1,00,000
(ii)	Purchased goods for cash Rs 20,000 and on credit Rs 30,000	– 20,000	+	20,000
				30,000			=	30,000
		80,000	+	50,000			=	30,000	+	1,00,000
(iii)	Sold goods for cash costing Rs 10,000 and on credit costing	12,000	+	– 10,000			=			2,000
	Rs 15,000 both at a profit of 20%			– 15,000	+	18,000	=			3,000
		92,000	+	25,000	+	18,000	=	30,000	+	1,05,000