1.

Prepare an Accounting Equation from the following:(i) Started business with cash ₹ 1,00,000.(ii) Purchased goods for cash ₹ 20,000 and on credit ₹ 30,000.(iii) Sold goods for cash costing ₹ 10,000 and on credit costing ₹ 15,000 both at a profit of 20%.

Answer» Prepare an Accounting Equation from the following:

(i) Started business with cash ₹ 1,00,000.

(ii) Purchased goods for cash ₹ 20,000 and on credit ₹ 30,000.

(iii) Sold goods for cash costing ₹ 10,000 and on credit costing ₹ 15,000 both at a profit of 20%.


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