Prepare accounting equation on the basis of the following:
(a) Harsha started business with cash ₹ 2,00,000
(b) Purchased goods from Naman for cash ₹ 40,000
(c) Sold goods to Bhanu costing ₹ 10,000/- ₹ 12,000
(d) Bought furniture on credit ₹ 7,000
(a) Harsha started business with cash ₹ 2,00,000
(b) Purchased goods from Naman for cash ₹ 40,000
(c) Sold goods to Bhanu costing ₹ 10,000/- ₹ 12,000
(d) Bought furniture on credit ₹ 7,000
| S.No | Explanation | Asset | Liabilities | + | Capital | |||||||
| Cash | + | Stock | + | Debtors | + | Furniture | = | Creditors | ||||
| (a) | Increase in cash | 2,00,000 | ||||||||||
| Increase in capital | = | 2,00,000 | ||||||||||
| 2,00,000 | = | NIL | + | 2,00,000 | ||||||||
| (b) | Increase in stock | 40,000 | ||||||||||
| Decrease in cash | (40,000) | |||||||||||
| 1,60,000 | + | 40,000 | = | NIL | + | 2,00,000 | ||||||
| (c) | Increase in debtors | 12,000 | ||||||||||
| Decrease in stock | (10,000) | |||||||||||
| Profit | 2,000 | |||||||||||
| 1,60,000 | + | 30,000 | + | 12,000 | = | NIL | 2,02,000 | |||||
| (d) | Increase in furniture | 7,000 | ||||||||||
| Decrease in creditors | 7,000 | |||||||||||
| 1,60,000 | + | 30,000 | + | 2,00,000 | + | 7,000 | = | 7,000 | + | 2,02,000 |
0 تعليقات