Rohit has the following transactions :

Prepare the Accounting Equation to show the effect of the above transactions on the assets, liabilities and capital.

Transcribed Image Text:

(a) Commenced business with cash (b) Purchased machinery on credit (c) Purchased goods for cash (d) Purchased car for personal use (e) Paid to creditors in full settlement (f) Sold goods for cash costing 5,000 (g) Paid rent (h) Commission received in advance and *1,50,000 *40,000 €20,000 *80,000 *38,000 *4,500 1,000 €2,000