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Q16. show the accounting equation on the basis of the following and present a balance sheet on the last new equation balances1. Manu started business with cash rupees 50,0002. Bought furniture for rupees5003.Purchased goods on credit4,0004.Sold goods on cash( cost price 500) for7005. Receive Commission12006.Purchased goods for cash1,0007. Withdrew for personal use7008.Paid to creditors rupees4002009.Paid for salaries |
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Answer» 1.CASH a/c DR. To CAPITAL a/c.Explanation:BUSINESS STARTED with cash. |
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