Show the effect of following transaction on the accounting equation: (a) Manoj started business with (1) Cash

Show the effect of following transaction on the accounting equation:

Transcribed Image Text:

(a) Manoj started business with (1) Cash (11) Goods (111) Building (b) He purchased goods for cash (c) He sold goods (costing *20,000) (d) He purchased goods from Rahul (e) He sold goods to Varun (Costing * 52,000) (f) He paid cash to Rahul in full settlement (g) Salary paid by him (h) Received cash from Varun in full settlement (1) Rent outstanding (1) Prepaid Insurance (k) Commission received by him (1) Amount withdrawn by him for personal use (m) Depreciation charge on building (n) Fresh capital invested (0) Purchased goods from Rakhi 2,30,000 *1,00,000 *2,00,000 *50,000 *35,000 *55,000 *60,000 *53,000 €20,000 *59,000 €3,000 *2,000 13, 000 €20,000 10,000 *50,000 €10,000