Show the accounting equation on the basis of the following transaction: (a) Udit started business with: (1)
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Show the accounting equation on the basis of the following transaction:
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(a) Udit started business with: (1) Cash (11) Goods (b) Purchased building for cash (c) Purchased goods from Himani (d) Sold goods to Ashu (Cost 25,000) (e) Paid insurance premium (f) Rent outstanding (g) Depreciation on building (h) Cash withdrawn for personal use T (1) Rent received in advance (1) Cash paid to himani on account (k) Cash received from Ashu *5,00,000 €1,00,000 *2,00,000 *50,000 bli, *36, 000 3,000 *5,000 ₹8,000 €20,000 *5,000 20,000 30,000
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The accounting equation also known as the balance sheet equation represents the fundamental relation...View the full answer
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Related Book For
Accountancy Financial Accounting Part 1 Textbook For Class 11
ISBN: 9788174505071
1st Edition
Authors: NCERT
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