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Question

Show the effect of the following transactions on Assets, Liabilities and Capital through accounting equation

TransactionAmount (Rs.)a. Started business with cash1,20,000b. Rent received10,000c. Invested in shares50,000d. Received dividend5,000e. Purchased goods on credit from Ragini35,000f. Paid cash for household expenses7,000g. Sold goods for cash (costing Rs. 10,000)14,000h. Cash paid to Ragini35,000i. Deposited into bank20,000

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Solution

Statement showing the effect of various transactions on Accounting Equation


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