Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. Also prepare a Balance Sheet.(i) Commenced business with cash ₹ 60,000.(ii) Paid rent in advance ₹ 500.(iii) Purchased goods for cash ₹ 30,000 and credit ₹ 20,000.(iv) Sold goods for cash ₹ 30,000 costing ₹ 20,000.(v) Paid salary ₹ 500 and salary outstanding being ₹ 100.(vi) Bought motorcycle for personal use ₹ 5,000.

Prove that the Accounting Equation is satisfied in all the following t

1.	Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. Also prepare a Balance Sheet.(i) Commenced business with cash ₹ 60,000.(ii) Paid rent in advance ₹ 500.(iii) Purchased goods for cash ₹ 30,000 and credit ₹ 20,000.(iv) Sold goods for cash ₹ 30,000 costing ₹ 20,000.(v) Paid salary ₹ 500 and salary outstanding being ₹ 100.(vi) Bought motorcycle for personal use ₹ 5,000.
Answer» Prove that the Accounting Equation is satisfied in all the following transactions of Suresh. Also prepare a Balance Sheet. (i) Commenced business with cash ₹ 60,000. (ii) Paid rent in advance ₹ 500. (iii) Purchased goods for cash ₹ 30,000 and credit ₹ 20,000. (iv) Sold goods for cash ₹ 30,000 costing ₹ 20,000. (v) Paid salary ₹ 500 and salary outstanding being ₹ 100. (vi) Bought motorcycle for personal use ₹ 5,000.